First Data (FDC) Rating Lowered to Market Perform at Wells Fargo & Co

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First Data (NYSE:FDC) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $25.05 price objective on the business services provider’s stock. Wells Fargo & Co‘s price objective indicates a potential upside of 0.16% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. SunTrust Banks restated a “buy” rating and issued a $27.00 price objective on shares of First Data in a research note on Wednesday, October 31st. Craig Hallum set a $35.00 price objective on shares of First Data and gave the company a “buy” rating in a research note on Monday, October 29th. Buckingham Research increased their price objective on shares of First Data from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, October 26th. Robert W. Baird restated a “buy” rating and issued a $22.00 price objective on shares of First Data in a research note on Monday, December 17th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $25.00 price objective on shares of First Data in a research note on Monday, December 24th. Twenty equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. First Data has an average rating of “Hold” and a consensus price target of $24.98.

NYSE:FDC opened at $25.01 on Tuesday. The firm has a market cap of $23.47 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.37 and a beta of 2.31. First Data has a one year low of $14.73 and a one year high of $26.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.47.

First Data (NYSE:FDC) last announced its quarterly earnings data on Wednesday, February 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. First Data had a net margin of 10.58% and a return on equity of 18.47%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, analysts forecast that First Data will post 1.38 earnings per share for the current fiscal year.

In other news, insider Cynthia A. Armine-Klein sold 99,510 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $19.00, for a total value of $1,890,690.00. Following the sale, the insider now owns 662,767 shares of the company’s stock, valued at approximately $12,592,573. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of First Data in the 4th quarter valued at about $42,000. First Personal Financial Services raised its holdings in First Data by 57.9% during the 4th quarter. First Personal Financial Services now owns 4,049 shares of the business services provider’s stock worth $68,000 after buying an additional 1,484 shares during the period. Penserra Capital Management LLC acquired a new stake in First Data during the 4th quarter worth approximately $86,000. TD Capital Management LLC acquired a new stake in First Data during the 4th quarter worth approximately $126,000. Finally, Ffcm LLC raised its holdings in First Data by 303.1% during the 4th quarter. Ffcm LLC now owns 7,626 shares of the business services provider’s stock worth $129,000 after buying an additional 5,734 shares during the period. 55.78% of the stock is currently owned by hedge funds and other institutional investors.

First Data Company Profile

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.

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Analyst Recommendations for First Data (NYSE:FDC)

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