First Data (FDC) Lifted to Buy at Bank of America

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.

First Data (NYSE:FDC) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. First Data had a net margin of 5.99% and a return on equity of 26.60%. First Data’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. equities analysts anticipate that First Data will post 1.28 EPS for the current year.

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.

Analyst Recommendations for First Data (NYSE:FDC)

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