First Data Corporation (FDC) Sees Significant Decrease in Short Interest

First Data Corporation (NYSE:FDC) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 19,687,441 shares, a drop of 15.2% from the October 13th total of 23,206,623 shares. Based on an average daily volume of 7,503,064 shares, the short-interest ratio is presently 2.6 days. Approximately 5.8% of the company’s shares are sold short.

FDC has been the subject of a number of analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of First Data Corporation in a research report on Thursday, August 10th. BidaskClub raised shares of First Data Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Morgan Stanley raised their target price on shares of First Data Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Buckingham Research initiated coverage on shares of First Data Corporation in a research report on Monday, October 2nd. They issued a “buy” rating and a $23.00 target price for the company. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $20.00 target price on shares of First Data Corporation in a research report on Thursday, October 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. First Data Corporation presently has a consensus rating of “Buy” and an average target price of $19.55.

First Data Corporation (FDC) opened at $16.73 on Friday. The company has a market cap of $15,449.59, a P/E ratio of 13.28, a PEG ratio of 1.13 and a beta of 1.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58. First Data Corporation has a 12-month low of $13.96 and a 12-month high of $19.23.

First Data Corporation (NYSE:FDC) last announced its quarterly earnings results on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.08 billion. First Data Corporation had a net margin of 5.99% and a return on equity of 26.60%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. sell-side analysts predict that First Data Corporation will post 1.29 earnings per share for the current fiscal year.

In related news, insider Jeff Shanahan acquired 37,879 shares of the stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $18.13 per share, with a total value of $686,746.27. Following the completion of the transaction, the insider now directly owns 1,237,370 shares of the company’s stock, valued at $22,433,518.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Bisignano acquired 25,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were bought at an average cost of $16.82 per share, with a total value of $420,500.00. Following the transaction, the chief executive officer now directly owns 7,107,398 shares of the company’s stock, valued at $119,546,434.36. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 247,182 shares of company stock worth $4,458,069 and sold 151,830 shares worth $2,754,035. Company insiders own 6.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of First Data Corporation by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,940 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 348 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of First Data Corporation by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 452 shares during the last quarter. HL Financial Services LLC grew its holdings in shares of First Data Corporation by 3.5% during the 2nd quarter. HL Financial Services LLC now owns 17,950 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 600 shares during the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of First Data Corporation by 4.4% during the 2nd quarter. First Allied Advisory Services Inc. now owns 16,538 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 691 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in First Data Corporation by 5.7% during the 2nd quarter. M&T Bank Corp now owns 16,680 shares of the business services provider’s stock worth $303,000 after acquiring an additional 895 shares during the last quarter. 40.89% of the stock is currently owned by institutional investors.

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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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