BidaskClub upgraded shares of First Data Corporation (NYSE:FDC) from a hold rating to a buy rating in a research note published on Wednesday morning.

Several other equities analysts also recently weighed in on the company. Piper Jaffray Companies reaffirmed an overweight rating and issued a $23.00 price objective (up from $22.00) on shares of First Data Corporation in a research note on Thursday, August 10th. Morgan Stanley raised their price objective on First Data Corporation from $19.00 to $20.00 and gave the company an equal weight rating in a research note on Tuesday, August 8th. Craig Hallum reaffirmed a buy rating and issued a $25.00 price objective (up from $20.00) on shares of First Data Corporation in a research note on Tuesday, August 8th. Zacks Investment Research raised First Data Corporation from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group raised their price objective on First Data Corporation from $19.00 to $20.00 and gave the company an outperform rating in a research note on Thursday, July 13th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $18.78.

Shares of First Data Corporation (NYSE FDC) remained flat at $18.16 during midday trading on Wednesday. 2,115,187 shares of the company were exchanged. First Data Corporation has a 52 week low of $12.74 and a 52 week high of $19.20. The firm has a market cap of $16.76 billion, a PE ratio of 30.37 and a beta of 1.77. The firm’s 50 day moving average price is $18.28 and its 200-day moving average price is $16.92.

First Data Corporation (NYSE:FDC) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. First Data Corporation had a return on equity of 26.25% and a net margin of 4.66%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business posted $0.35 EPS. First Data Corporation’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that First Data Corporation will post $1.53 earnings per share for the current year.

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In other news, insider Jeff Shanahan bought 118,135 shares of First Data Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average price of $17.81 per share, for a total transaction of $2,103,984.35. Following the completion of the acquisition, the insider now owns 1,122,038 shares of the company’s stock, valued at $19,983,496.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of First Data Corporation by 8.7% in the second quarter. Vanguard Group Inc. now owns 32,679,266 shares of the business services provider’s stock worth $594,763,000 after buying an additional 2,614,956 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 last quarter. BlackRock Inc. boosted its position in shares of First Data Corporation by 12.2% in the second quarter. BlackRock Inc. now owns 15,870,199 shares of the business services provider’s stock worth $288,835,000 after buying an additional 1,721,402 shares during the last quarter. Glenview Capital Management LLC boosted its position in shares of First Data Corporation by 14.0% in the second quarter. Glenview Capital Management LLC now owns 12,219,432 shares of the business services provider’s stock worth $222,394,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Credit Suisse AG boosted its position 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 last quarter. Hedge funds and other institutional investors own 37.54% 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.

Analyst Recommendations for First Data Corporation (NYSE:FDC)

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