Fiserv, Inc. (NASDAQ:FISV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, November 2nd.
According to Zacks, “Fiserv’s third-quarter results missed estimates but showed a year-over-year improvement. The company’s focus on expanding its product portfolio is a key growth driver. Product-oriented acquisitions are leading to a steady flow of customers while investment in digital-oriented technologies is improving its competitiveness. Fiserv is benefiting from the growing adoption of DNA, Zelle and other digital banking solutions among the banks and credit unions.However, thecompany’s highly leveraged balance sheet continues to weigh on its profitability. Moreover, lower termination fees, EMV deferral and adverse foreign currency translations are negatively impacting the company’s sales.Notably, shares underperformed the industry on a year-to-date basis.”
Several other equities research analysts also recently commented on the company. Robert W. Baird restated an “outperform” rating and set a $146.00 price objective (up previously from $136.00) on shares of Fiserv in a report on Tuesday, October 10th. Cowen and Company reaffirmed a “hold” rating and set a $115.00 target price on shares of Fiserv in a research report on Thursday, October 12th. Guggenheim raised Fiserv from a “neutral” rating to a “buy” rating and lifted their target price for the company from $131.00 to $136.00 in a research report on Monday, July 17th. BidaskClub cut Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $128.00 target price on shares of Fiserv in a research report on Wednesday, September 6th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $128.45.
Shares of Fiserv (FISV) traded down $0.89 during mid-day trading on Thursday, hitting $128.84. The stock had a trading volume of 539,004 shares, compared to its average volume of 867,059. Fiserv has a 12-month low of $100.03 and a 12-month high of $130.20. The firm has a market capitalization of $26,708.47, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.14.
Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.45 billion. Fiserv had a return on equity of 43.56% and a net margin of 16.31%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. analysts forecast that Fiserv will post 5.08 EPS for the current year.
In related news, Director Kim M. Robak sold 6,124 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $124.54, for a total transaction of $762,682.96. Following the completion of the sale, the director now directly owns 42,141 shares in the company, valued at approximately $5,248,240.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total value of $2,074,340.00. Following the sale, the insider now owns 269,151 shares of the company’s stock, valued at $32,841,805.02. The disclosure for this sale can be found here. Insiders sold a total of 57,124 shares of company stock valued at $7,133,943 over the last quarter. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Fiserv by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,301,552 shares of the business services provider’s stock worth $2,606,032,000 after buying an additional 518,262 shares during the period. BlackRock Inc. raised its position in shares of Fiserv by 3.7% in the 2nd quarter. BlackRock Inc. now owns 14,873,800 shares of the business services provider’s stock worth $1,819,663,000 after acquiring an additional 528,274 shares in the last quarter. FMR LLC raised its position in shares of Fiserv by 0.7% in the 2nd quarter. FMR LLC now owns 6,907,966 shares of the business services provider’s stock worth $845,121,000 after acquiring an additional 47,797 shares in the last quarter. Longview Partners Guernsey LTD raised its position in shares of Fiserv by 23.3% in the 3rd quarter. Longview Partners Guernsey LTD now owns 5,391,519 shares of the business services provider’s stock worth $695,290,000 after acquiring an additional 1,020,121 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Fiserv by 7.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,527,505 shares of the business services provider’s stock worth $431,555,000 after acquiring an additional 232,005 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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