Piper Jaffray Companies Reiterates Buy Rating for First Data (FDC)
First Data (NYSE:FDC)‘s stock had its “buy” rating restated by equities researchers at Piper Jaffray Companies in a report issued on Thursday. They presently have a $26.00 target price on the business services provider’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 44.44% from the company’s previous close.
A number of other analysts also recently issued reports on the company. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating on shares of First Data in a research report on Friday, October 20th. Barclays reaffirmed a “buy” rating and issued a $24.00 target price on shares of First Data in a research report on Tuesday, December 5th. Wedbush raised First Data from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $25.00 to $20.00 in a research report on Friday, October 20th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 target price on shares of First Data in a research report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. First Data presently has a consensus rating of “Buy” and a consensus target price of $20.11.
Shares of First Data (NYSE:FDC) opened at $18.00 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. The stock has a market capitalization of $16,620.00 and a PE ratio of 23.68. First Data has a 12-month low of $14.67 and a 12-month high of $19.23.
In other news, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the sale, the insider now owns 417,652 shares in the company, valued at $7,150,202.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano acquired 25,000 shares of First Data stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $16.82 per share, with a total value of $420,500.00. Following the acquisition, the chief executive officer now owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 25,300 shares of company stock valued at $425,624. Corporate insiders own 6.30% of the company’s stock.
Several large investors have recently modified their holdings of FDC. Comerica Bank boosted its holdings in shares of First Data by 28.3% during the second quarter. Comerica Bank now owns 16,603 shares of the business services provider’s stock worth $312,000 after acquiring an additional 3,660 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of First Data by 22.4% during the second quarter. Principal Financial Group Inc. now owns 73,807 shares of the business services provider’s stock worth $1,343,000 after acquiring an additional 13,496 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of First Data by 24.1% during the second quarter. Alliancebernstein L.P. now owns 224,292 shares of the business services provider’s stock worth $4,082,000 after acquiring an additional 43,601 shares during the period. Riverhead Capital Management LLC bought a new stake in shares of First Data during the second quarter worth approximately $135,000. Finally, Teachers Advisors LLC boosted its holdings in shares of First Data by 73.2% during the second quarter. Teachers Advisors LLC now owns 520,328 shares of the business services provider’s stock worth $9,470,000 after acquiring an additional 219,926 shares during the period. Institutional investors own 49.05% of the company’s stock.
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About First Data
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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