Bank of America upgraded shares of First Data (NYSE:FDC) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat.com reports.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of First Data from a sell rating to a hold rating in a research note on Friday, October 27th. SunTrust Banks reiterated a buy rating on shares of First Data in a research note on Friday, October 20th. Barclays reiterated a buy rating and set a $24.00 price objective on shares of First Data in a research note on Tuesday, December 5th. Wedbush upgraded shares of First Data from a neutral rating to an outperform rating and dropped their price objective for the stock from $25.00 to $20.00 in a research note on Friday, October 20th. Finally, Cantor Fitzgerald reiterated a hold rating and set a $17.00 price objective on shares of First Data in a research note on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $20.11.
First Data (NYSE:FDC) traded up $0.44 on Thursday, reaching $18.00. 6,567,596 shares of the company traded hands, compared to its average volume of 5,046,827. The firm has a market capitalization of $16,622.39, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. First Data has a 52-week low of $14.67 and a 52-week high of $19.23. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.58.
In related news, CEO Frank Bisignano acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at approximately $119,546,434.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Gelb sold 7,473 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the transaction, the insider now owns 417,652 shares of the company’s stock, valued at $7,150,202.24. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 25,300 shares of company stock valued at $425,624. 6.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of FDC. Advisor Group Inc. boosted its holdings in shares of First Data by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 2,964 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of First Data in the third quarter valued at approximately $117,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of First Data by 254.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 5,173 shares in the last quarter. Riverhead Capital Management LLC bought a new position in shares of First Data in the second quarter valued at approximately $135,000. Finally, First Manhattan Co. boosted its holdings in shares of First Data by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 49.05% of the company’s stock.
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First Data Company Profile
First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.
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