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First Data (FDC) Short Interest Update

First Data (NYSE:FDC) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 39,574,818 shares, a decline of 13.8% from the April 13th total of 45,913,059 shares. Based on an average daily volume of 7,846,320 shares, the short-interest ratio is currently 5.0 days. Currently, 8.9% of the company’s shares are short sold.

In related news, insider Andrew Gelb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the transaction, the insider now owns 422,024 shares of the company’s stock, valued at $7,765,241.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony S. Marino sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $18.10, for a total transaction of $126,700.00. Following the completion of the transaction, the insider now directly owns 270,100 shares of the company’s stock, valued at approximately $4,888,810. The disclosure for this sale can be found here. Insiders purchased 300 shares of company stock valued at $4,745 in the last quarter. 5.60% of the stock is owned by company insiders.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of First Data by 296.8% during the fourth quarter. Deutsche Bank AG now owns 3,336,403 shares of the business services provider’s stock valued at $55,749,000 after buying an additional 2,495,618 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of First Data by 159.0% during the fourth quarter. Bank of Montreal Can now owns 2,432,974 shares of the business services provider’s stock valued at $40,655,000 after buying an additional 1,493,774 shares during the last quarter. Beach Point Capital Management LP purchased a new stake in shares of First Data during the fourth quarter valued at $3,426,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of First Data during the fourth quarter valued at $2,880,000. Finally, FNY Partners Fund LP grew its holdings in shares of First Data by 66.7% during the fourth quarter. FNY Partners Fund LP now owns 25,000 shares of the business services provider’s stock valued at $417,000 after buying an additional 10,000 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Data opened at $19.65 on Tuesday, Marketbeat Ratings reports. The firm has a market cap of $18.03 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. First Data has a 12-month low of $19.49 and a 12-month high of $19.72.

First Data (NYSE:FDC) last issued its quarterly earnings results on Monday, April 30th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data had a return on equity of 23.21% and a net margin of 13.27%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. analysts predict that First Data will post 1.24 earnings per share for the current year.

A number of equities analysts recently commented on FDC shares. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 price objective on shares of First Data in a research note on Monday, February 12th. BMO Capital Markets boosted their price objective on shares of First Data from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Zacks Investment Research downgraded shares of First Data from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Bank of America boosted their price objective on shares of First Data from $20.50 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Finally, ValuEngine downgraded shares of First Data from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. First Data has a consensus rating of “Buy” and a consensus target price of $20.83.

First Data Company Profile

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.

Zacks Investment Research Downgrades First Data (FDC) to Hold

First Data (NYSE:FDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “First Data continues to benefit from innovative product and services portfolio and growing enterprise business. The company reported strong first quarter 2018 results beating the Zacks Consensus Estimate on both earnings ad revenues. First Data’s expanding clientele is a positive. Its strong focus on globalizing its offerings, acquisitions and strategic partnerships and a healthy business around large and small banks are other positives. The company has outperformed the industry it belongs to in the past year. On the flip side, acquisition related integration risks are likely to weigh on the company’s balance sheet. Seasonality in business is likely to hurt the company’s revenues and profits.”

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A number of other equities analysts have also issued reports on the company. Bank of America raised their price target on First Data from $20.50 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 1st. Robert W. Baird raised their price target on First Data from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 1st. KeyCorp raised their price target on First Data from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, May 1st. Mizuho reissued a “buy” rating and set a $19.00 price target on shares of First Data in a report on Monday, April 23rd. Finally, Sanford C. Bernstein assumed coverage on First Data in a report on Tuesday, March 27th. They set an “outperform” rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. First Data currently has a consensus rating of “Buy” and a consensus target price of $20.75.

Shares of FDC traded down $0.26 during midday trading on Friday, reaching $19.44. 396,695 shares of the stock were exchanged, compared to its average volume of 8,875,742. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. First Data has a twelve month low of $19.36 and a twelve month high of $19.70. The stock has a market capitalization of $18.06 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40.

First Data (NYSE:FDC) last released its quarterly earnings results on Monday, April 30th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. First Data had a return on equity of 23.21% and a net margin of 13.27%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company posted $0.28 earnings per share. The business’s revenue was down 18.5% on a year-over-year basis. equities research analysts forecast that First Data will post 1.25 EPS for the current fiscal year.

In other news, insider Andrew Gelb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $18.40, for a total transaction of $184,000.00. Following the sale, the insider now owns 422,024 shares of the company’s stock, valued at approximately $7,765,241.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony S. Marino sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $18.10, for a total value of $126,700.00. Following the sale, the insider now directly owns 270,100 shares in the company, valued at approximately $4,888,810. The disclosure for this sale can be found here. Insiders have bought a total of 300 shares of company stock worth $4,745 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Several large investors have recently made changes to their positions in FDC. Westside Investment Management Inc. acquired a new position in shares of First Data during the 4th quarter worth approximately $103,000. Pittenger & Anderson Inc. raised its position in shares of First Data by 72.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the business services provider’s stock worth $130,000 after purchasing an additional 3,250 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of First Data during the 4th quarter worth approximately $131,000. Deltec Asset Management LLC acquired a new position in shares of First Data during the 4th quarter worth approximately $167,000. Finally, IBM Retirement Fund acquired a new position in shares of First Data during the 1st quarter worth approximately $167,000. 50.12% of the stock is currently owned by institutional investors and hedge funds.

About First Data

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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Analyst Recommendations for First Data (NYSE:FDC)