Zacks Investment Research upgraded shares of Fiserv, Inc. (NASDAQ:FISV) from a sell rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Fiserv's financial and payment solutions business is backed by a broad customer base, expanding product portfolio and key contract wins. Product-oriented acquisitions are also leading to a steady flow of customers. Investment in digital-oriented technologies is improving its competitiveness. The company is expected to benefit from its five year cost cutting program. Estimates have also been stable lately ahead of the company’s Q3 earnings release. The company has mixed record of earnings surprises in recent quarters. However, we continue to be wary of stricter regulations in the banking/financial services industry, stiff competition and its highly leveraged balance sheet. Notably, the company has underperformed the industry on a year-to-date basis.”
Several other research analysts have also recently weighed in on the stock. Cowen and Company reissued a hold rating and set a $115.00 price target on shares of Fiserv in a research report on Thursday, October 12th. Robert W. Baird reissued an outperform rating and set a $146.00 price target (up previously from $136.00) on shares of Fiserv in a research report on Tuesday, October 10th. Royal Bank Of Canada reissued a hold rating and set a $128.00 price target on shares of Fiserv in a research report on Sunday, October 8th. BidaskClub cut shares of Fiserv from a strong-buy rating to a buy rating in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group boosted their price target on shares of Fiserv from $123.00 to $126.00 and gave the company a neutral rating in a research report on Wednesday, August 2nd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $127.77.
Shares of Fiserv (NASDAQ:FISV) opened at 127.55 on Monday. The stock has a 50 day moving average of $126.04 and a 200 day moving average of $123.12. The stock has a market cap of $26.84 billion, a P/E ratio of 31.22 and a beta of 0.82. Fiserv has a 52 week low of $92.81 and a 52 week high of $129.81.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.04). The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. On average, analysts expect that Fiserv will post $5.10 earnings per share for the current year.
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In other Fiserv news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $124.54, for a total transaction of $762,682.96. Following the sale, the director now directly owns 42,141 shares in the company, valued at $5,248,240.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction dated 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 owns 313,835 shares in the company, valued at $39,926,088.70. The disclosure for this sale can be found here. Insiders sold 57,124 shares of company stock worth $7,133,943 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Gardiner Nancy B increased its stake in Fiserv by 6.5% during the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock worth $1,445,000 after purchasing an additional 762 shares during the period. Atria Investments LLC purchased a new stake in Fiserv during the second quarter worth about $201,000. Dupont Capital Management Corp increased its stake in Fiserv by 6.8% during the second quarter. Dupont Capital Management Corp now owns 12,967 shares of the business services provider’s stock worth $1,586,000 after purchasing an additional 826 shares during the period. Great Lakes Advisors LLC increased its stake in Fiserv by 2.2% during the second quarter. Great Lakes Advisors LLC now owns 17,228 shares of the business services provider’s stock worth $2,108,000 after purchasing an additional 378 shares during the period. Finally, Tredje AP fonden increased its stake in Fiserv by 38.1% during the second quarter. Tredje AP fonden now owns 69,035 shares of the business services provider’s stock worth $8,446,000 after purchasing an additional 19,050 shares during the period. Institutional investors own 87.70% 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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