Traders Sell Shares of First Data (FDC) on Strength (FDC)
Investors sold shares of First Data Corp (NYSE:FDC) on strength during trading hours on Friday. $20.36 million flowed into the stock on the tick-up and $77.06 million flowed out of the stock on the tick-down, for a money net flow of $56.70 million out of the stock. Of all companies tracked, First Data had the 15th highest net out-flow for the day. First Data traded up $0.50 for the day and closed at $26.24
Several equities analysts have recently weighed in on FDC shares. Goldman Sachs Group lifted their target price on shares of First Data to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of First Data from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, August 7th. Atlantic Securities upgraded shares of First Data from a “neutral” rating to an “overweight” rating in a research note on Friday, August 17th. Morgan Stanley raised their price objective on shares of First Data from $20.00 to $22.00 and gave the company a “$22.60” rating in a research report on Thursday, July 19th. Finally, Mizuho restated a “buy” rating and issued a $28.00 price objective on shares of First Data in a research report on Tuesday, July 31st. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.69.
The stock has a market cap of $23.71 billion, a PE ratio of 20.34, a P/E/G ratio of 1.90 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77.
In other First Data news, insider Jeff Shanahan sold 115,229 shares of First Data stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $23.94, for a total transaction of $2,758,582.26. Following the completion of the sale, the insider now directly owns 256,100 shares in the company, valued at $6,131,034. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Guy Chiarello sold 150,000 shares of First Data stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $25.06, for a total transaction of $3,759,000.00. Following the sale, the president now owns 1,408,272 shares of the company’s stock, valued at $35,291,296.32. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 300 shares of company stock valued at $6,780. 5.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Point72 Asia Hong Kong Ltd purchased a new position in shares of First Data during the first quarter worth approximately $122,000. Acadian Asset Management LLC purchased a new position in shares of First Data during the second quarter worth approximately $171,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of First Data during the second quarter worth approximately $188,000. Nicolet Bankshares Inc. purchased a new position in shares of First Data during the second quarter worth approximately $206,000. Finally, IBM Retirement Fund purchased a new position in shares of First Data during the first quarter worth approximately $167,000. 51.28% of the stock is currently owned by hedge funds and other institutional investors.
About First Data (NYSE:FDC)
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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