Traders Buy Shares of First Data (FDC) on Weakness
Traders bought shares of First Data Corp (NYSE:FDC) on weakness during trading on Friday. $157.14 million flowed into the stock on the tick-up and $96.11 million flowed out of the stock on the tick-down, for a money net flow of $61.03 million into the stock. Of all companies tracked, First Data had the 29th highest net in-flow for the day. First Data traded down ($0.54) for the day and closed at $21.60
A number of analysts have recently issued reports on FDC shares. Goldman Sachs Group increased their target price on First Data to $30.00 and gave the company a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded First Data from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, August 7th. Atlantic Securities upgraded First Data from a “neutral” rating to an “overweight” rating in a report on Friday, August 17th. Wedbush increased their target price on First Data from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. Finally, Morgan Stanley increased their target price on First Data from $20.00 to $22.00 and gave the company a “$22.60” rating in a report on Thursday, July 19th. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.56.
The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.63 and a beta of 1.56.
In other news, insider Barry C. Mccarthy sold 151,203 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $25.78, for a total value of $3,898,013.34. Following the sale, the insider now directly owns 484,774 shares of the company’s stock, valued at $12,497,473.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff Shanahan sold 115,229 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $23.94, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 416,432 shares of company stock worth $10,415,596. Corporate insiders own 5.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in First Data during the second quarter worth about $171,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in First Data during the second quarter worth about $188,000. Nicolet Bankshares Inc. acquired a new stake in First Data during the second quarter worth about $206,000. Marshall Wace LLP acquired a new stake in First Data during the second quarter worth about $242,000. Finally, YHB Investment Advisors Inc. acquired a new stake in First Data during the second quarter worth about $246,000. 51.41% of the stock is currently owned by institutional investors.
First Data Company Profile (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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