Fiserv, Inc. (NASDAQ:FISV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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.”
FISV has been the topic of several other research reports. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $136.00 in a report on Monday, July 17th. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $128.00 target price on shares of Fiserv in a report on Sunday, October 8th. Robert W. Baird restated a “buy” rating and issued a $136.00 price target on shares of Fiserv in a research report on Friday, September 8th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $126.00 price target on shares of Fiserv in a research report on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $130.41.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.45 billion. Fiserv had a net margin of 16.31% and a return on equity of 43.56%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. sell-side analysts forecast that Fiserv will post 5.08 earnings per share for the current fiscal year.
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In related news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were 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 of the company’s stock, valued at $5,248,240.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $127.22, for a total transaction of $2,162,740.00. Following the sale, the insider now directly owns 313,835 shares of the company’s stock, valued at $39,926,088.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,124 shares of company stock valued at $5,059,603. Insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coastline Trust Co acquired a new position in Fiserv during the third quarter valued at approximately $202,000. Gyroscope Capital Management Group LLC acquired a new position in Fiserv during the third quarter valued at approximately $326,000. Moors & Cabot Inc. grew its holdings in Fiserv by 31.5% during the third quarter. Moors & Cabot Inc. now owns 2,433 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 583 shares during the period. IFM Investors Pty Ltd acquired a new position in Fiserv during the third quarter valued at approximately $779,000. Finally, Fieldpoint Private Securities LLC acquired a new position in Fiserv during the third quarter valued at approximately $393,000. Hedge funds and other institutional investors own 88.85% of the company’s stock.
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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