Zacks Investment Research cut shares of First Data Corporation (NYSE:FDC) from a buy rating to a hold rating in a report issued on Friday, July 28th.

According to Zacks, “First Data Corporation  is a commerce-enabling technology and solutions company. The company's first-quarter 2017 earnings matched the Zacks Consensus Estimate. First Data’s focus on globalizing its offerings and strategic partnerships along with a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk and has no intention of paying cash dividend at present. Over the last one year, the company has outperformed the Zacks Business Services industry. “

A number of other research analysts have also recently weighed in on FDC. Piper Jaffray Companies reissued a buy rating and set a $22.00 price objective on shares of First Data Corporation in a research note on Wednesday, July 26th. Citigroup Inc. raised their price objective on shares of First Data Corporation from $18.00 to $19.00 and gave the stock a buy rating in a research note on Tuesday, May 9th. Wedbush reaffirmed a neutral rating and issued a $20.00 target price (up from $15.00) on shares of First Data Corporation in a research note on Tuesday, June 6th. Stifel Nicolaus assumed coverage on shares of First Data Corporation in a research note on Thursday, June 1st. They issued a buy rating and a $20.00 target price for the company. Finally, BTIG Research reaffirmed a buy rating and issued a $18.00 target price on shares of First Data Corporation in a research note on Thursday, June 1st. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $18.67.

First Data Corporation (FDC) opened at 18.05 on Friday. First Data Corporation has a one year low of $12.74 and a one year high of $19.20. The company has a market capitalization of $16.59 billion, a P/E ratio of 32.58 and a beta of 1.77. The stock’s 50 day moving average price is $18.48 and its 200-day moving average price is $16.67.

First Data Corporation (NYSE:FDC) last issued its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. First Data Corporation had a net margin of 4.66% and a return on equity of 26.89%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the company posted $0.35 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that First Data Corporation will post $1.53 EPS for the current year.

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Several large investors have recently modified their holdings of FDC. Vanguard Group Inc. raised its stake in shares of First Data Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 30,064,310 shares of the business services provider’s stock worth $465,997,000 after buying an additional 153,769 shares during the period. Bank of New York Mellon Corp raised its stake in shares of First Data Corporation by 52.1% in 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 buying an additional 6,151,153 shares during the period. BlackRock Inc. raised its stake in shares of First Data Corporation by 4,828.8% in the first quarter. BlackRock Inc. now owns 14,148,797 shares of the business services provider’s stock worth $219,306,000 after buying an additional 13,861,731 shares during the period. Credit Suisse AG raised its stake in shares of First Data Corporation by 5.7% in the first quarter. Credit Suisse AG now owns 7,740,994 shares of the business services provider’s stock worth $119,985,000 after buying an additional 415,743 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of First Data Corporation by 1.0% in the second quarter. Canada Pension Plan Investment Board now owns 6,812,500 shares of the business services provider’s stock worth $123,988,000 after buying an additional 70,300 shares during the period. Institutional investors and hedge funds own 36.55% of the company’s stock.

About First Data Corporation

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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