First Data (FDC) Price Target Lowered to $19.00 at SunTrust Banks

First Data (NYSE:FDC) had its target price trimmed by SunTrust Banks to $19.00 in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other research firms have also weighed in on FDC. Cantor Fitzgerald restated a hold rating and set a $17.00 target price on shares of First Data in a report on Monday, October 30th. KeyCorp restated a buy rating and set a $20.00 target price on shares of First Data in a report on Friday, October 27th. Zacks Investment Research upgraded First Data from a sell rating to a hold rating in a report on Friday, October 27th. Credit Suisse Group restated an outperform rating on shares of First Data in a report on Tuesday, September 5th. Finally, ValuEngine lowered First Data from a buy rating to a hold rating in a report on Friday, September 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $19.61.

First Data (NYSE FDC) remained flat at $$16.25 on Wednesday. 5,722,000 shares of the company traded hands, compared to its average volume of 4,458,249. The stock has a market cap of $15,006.32, a P/E ratio of 12.90, a PEG ratio of 1.10 and a beta of 1.51. First Data has a 1-year low of $13.96 and a 1-year high of $19.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58.

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

In other First Data news, CEO Frank Bisignano bought 25,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $16.82 per share, for a total transaction of $420,500.00. Following the transaction, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew Gelb sold 7,473 shares of the firm’s stock in a transaction dated 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 directly owns 417,652 shares in the company, valued at $7,150,202.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 25,200 shares of company stock worth $423,964 and have sold 77,445 shares worth $1,394,613. 6.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its position in shares of First Data by 117.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 14,791,789 shares of the business services provider’s stock valued at $266,844,000 after buying an additional 7,979,289 shares during the period. Iridian Asset Management LLC CT acquired a new position in shares of First Data during the third quarter worth $121,916,000. Bank of New York Mellon Corp grew its stake in shares of First Data by 52.1% during the second quarter. Bank of New York Mellon Corp now owns 17,965,715 shares of the business services provider’s stock worth $326,976,000 after purchasing an additional 6,151,153 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of First Data by 1,230.2% during the third quarter. Point72 Asset Management L.P. now owns 5,574,786 shares of the business services provider’s stock worth $100,569,000 after purchasing an additional 5,155,686 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of First Data by 4,509.6% during the second quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock worth $82,732,000 after purchasing an additional 4,447,098 shares in the last quarter. 49.09% of the stock is currently owned by institutional investors and hedge funds.

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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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