Investors Buy First Data (FDC) on Weakness

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Traders bought shares of First Data Corp (NYSE:FDC) on weakness during trading hours on Thursday. $98.59 million flowed into the stock on the tick-up and $24.16 million flowed out of the stock on the tick-down, for a money net flow of $74.43 million into the stock. Of all companies tracked, First Data had the 12th highest net in-flow for the day. First Data traded down ($0.16) for the day and closed at $25.45

Several brokerages have recently issued reports on FDC. Zacks Investment Research downgraded shares of First Data from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Wells Fargo & Co downgraded shares of First Data from an “outperform” rating to a “market perform” rating and set a $25.05 price target for the company. in a report on Tuesday, February 12th. BMO Capital Markets reiterated a “hold” rating and set a $25.64 price target on shares of First Data in a report on Thursday, February 7th. BTIG Research downgraded shares of First Data from a “buy” rating to a “neutral” rating in a report on Thursday, February 7th. Finally, Susquehanna Bancshares reiterated a “neutral” rating and set a $25.00 price target (down from $29.00) on shares of First Data in a report on Thursday, February 7th. Twenty analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. First Data has an average rating of “Hold” and an average target price of $24.98.

The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.36 and a beta of 2.28. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.36.

First Data (NYSE:FDC) last posted its quarterly earnings data on Wednesday, February 6th. The business services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.19 billion. First Data had a return on equity of 18.14% and a net margin of 10.58%. First Data’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. Equities research analysts forecast that First Data Corp will post 1.39 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of FDC. Vanguard Group Inc boosted its position in First Data by 18.9% during the third quarter. Vanguard Group Inc now owns 46,971,246 shares of the business services provider’s stock valued at $1,149,387,000 after acquiring an additional 7,465,388 shares during the last quarter. Norges Bank bought a new stake in First Data during the fourth quarter valued at $114,431,000. Boston Partners boosted its position in First Data by 3,218.7% during the fourth quarter. Boston Partners now owns 6,747,625 shares of the business services provider’s stock valued at $114,102,000 after acquiring an additional 6,544,302 shares during the last quarter. Shapiro Capital Management LLC boosted its position in First Data by 160.1% during the fourth quarter. Shapiro Capital Management LLC now owns 7,203,057 shares of the business services provider’s stock valued at $121,804,000 after acquiring an additional 4,433,214 shares during the last quarter. Finally, FMR LLC boosted its position in First Data by 20.2% during the fourth quarter. FMR LLC now owns 22,997,206 shares of the business services provider’s stock valued at $388,883,000 after acquiring an additional 3,869,263 shares during the last quarter. 55.84% of the stock is currently owned by institutional investors and hedge funds.

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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.

See Also: Gross Domestic Product (GDP)

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