First Data Corp. (NYSE:FDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “First Data Corporation is a commerce-enabling technology and solutions company. It provides merchant transaction processing and acquiring; credit, retail and debit card issuing and processing; prepaid services and check verification, settlement and guarantee services. First Data Corporation is headquartered in Atlanta, Georgia. “
A number of hedge funds and institutional investors recently bought and sold shares of FDC. Royal Bank of Canada boosted its position in First Data Corp. by 10.5% in the first quarter. Royal Bank of Canada now owns 8,833 shares of the company’s stock valued at $114,000 after buying an additional 836 shares during the period. Ngam Advisors L.P. boosted its position in First Data Corp. by 0.5% in the first quarter. Ngam Advisors L.P. now owns 350,691 shares of the company’s stock valued at $4,538,000 after buying an additional 1,583 shares during the period. Quantitative Systematic Strategies LLC boosted its position in First Data Corp. by 28.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,200 shares of the company’s stock valued at $167,000 after buying an additional 3,337 shares during the period. BNP Paribas Arbitrage SA boosted its position in First Data Corp. by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 27,430 shares of the company’s stock valued at $304,000 after buying an additional 3,342 shares during the period. Finally, Teachers Advisors Inc. boosted its position in First Data Corp. by 2.7% in the first quarter. Teachers Advisors Inc. now owns 145,262 shares of the company’s stock valued at $1,880,000 after buying an additional 3,780 shares during the period.
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A number of other research firms also recently weighed in on FDC. Barclays PLC decreased their target price on First Data Corp. from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Craig Hallum initiated coverage on shares of First Data Corp. in a research note on Tuesday, August 30th. They set a “buy” rating and a $20.00 price target for the company. Nomura restated a “hold” rating and set a $14.00 price target on shares of First Data Corp. in a research note on Wednesday, August 3rd. Deutsche Bank AG restated a “buy” rating on shares of First Data Corp. in a research note on Monday, July 18th. Finally, Robert W. Baird restated a “hold” rating on shares of First Data Corp. in a research note on Monday, May 16th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. First Data Corp. presently has an average rating of “Buy” and a consensus price target of $16.83.
Shares of First Data Corp. (NYSE:FDC) traded down 1.703% during midday trading on Tuesday, hitting $14.145. The stock had a trading volume of 2,434,997 shares. First Data Corp. has a 1-year low of $8.37 and a 1-year high of $17.99. The firm has a 50-day moving average price of $12.92 and a 200-day moving average price of $12.29. The firm’s market cap is $12.87 billion.
First Data Corp. (NYSE:FDC) last released its earnings results on Monday, August 1st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.81 billion. First Data Corp.’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that First Data Corp. will post $1.32 EPS for the current fiscal year.
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