Morgan Stanley Cuts First Data (FDC) Price Target to $19.00
First Data (NYSE:FDC) had its price target cut by research analysts at Morgan Stanley from $20.00 to $19.00 in a research note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 22.58% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Sanford C. Bernstein raised shares of First Data from a “market perform” rating to an “outperform” rating in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating on shares of First Data in a report on Tuesday. BMO Capital Markets upped their target price on shares of First Data from $21.50 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research raised shares of First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $20.00 target price on shares of First Data in a report on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.19.
Shares of First Data (NYSE FDC) opened at $15.50 on Wednesday. First Data has a 1 year low of $14.67 and a 1 year high of $19.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $15,070.96, a price-to-earnings ratio of 10.00, a PEG ratio of 0.96 and a beta of 1.46.
In other First Data news, insider Andrew Gelb sold 7,473 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the sale, the insider now owns 417,652 shares in the company, valued at approximately $7,150,202.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders acquired 300 shares of company stock worth $5,124. Corporate insiders own 6.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. lifted its stake in First Data by 113.3% in the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after purchasing an additional 2,964 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in First Data in the 3rd quarter worth $117,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in First Data by 254.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after purchasing an additional 5,173 shares in the last quarter. First Manhattan Co. lifted its stake in First Data by 200.0% in the 3rd quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in First Data by 72.2% in 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 in the last quarter. Institutional investors and hedge funds own 49.19% of the company’s stock.
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About First Data
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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