Zacks Investment Research upgraded shares of Fiserv Inc (NASDAQ:FISV) from a hold rating to a buy rating in a report issued on Thursday. The firm currently has $130.00 price objective on the business services provider’s stock.
According to Zacks, “Fiserv’s market leading position in the financial and payments solutions business along with broad and diverse customer base, strong product portfolio and high recurring revenues will help the company to drive growth. In 2016, Mobiliti ASP subscribers increased 30% year over year to 5.5 million. The company is also expected to benefit from its five year cost cutting program.Over the past one year, shares have outperformed the broader market. Estimates have remained stable ahead of the upcoming earnings release. Nonetheless, we continue to be wary of stricter regulations in the banking/financial services industry and stiff competition that can thwart its growth prospects. “
Other analysts have also issued reports about the stock. Monness Crespi & Hardt upped their price target on shares of Fiserv from $118.00 to $128.00 and gave the stock a buy rating in a research report on Monday, April 3rd. Guggenheim started coverage on shares of Fiserv in a research report on Friday, March 31st. They set a neutral rating and a $118.00 price target on the stock. Cantor Fitzgerald upped their price target on shares of Fiserv from $100.00 to $107.00 and gave the stock a neutral rating in a research report on Thursday, February 9th. Vetr raised shares of Fiserv from a sell rating to a buy rating and set a $121.50 price target on the stock in a research report on Monday, April 3rd. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $127.00 price target on shares of Fiserv in a research report on Thursday, February 9th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fiserv presently has an average rating of Hold and a consensus target price of $113.37.
Shares of Fiserv (NASDAQ:FISV) traded up 0.60% during midday trading on Thursday, hitting $118.50. 526,550 shares of the company traded hands. The stock has a market capitalization of $25.43 billion, a P/E ratio of 28.55 and a beta of 0.80. The stock’s 50-day moving average is $116.44 and its 200 day moving average is $108.26. Fiserv has a 12-month low of $92.81 and a 12-month high of $118.56.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Wednesday, February 8th. The business services provider reported $1.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.16. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. Fiserv had a net margin of 16.89% and a return on equity of 38.06%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, analysts expect that Fiserv will post $5.11 earnings per share for the current year.
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In other Fiserv news, insider Jeffery W. Yabuki sold 36,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $110.78, for a total value of $3,988,080.00. Following the transaction, the insider now directly owns 336,646 shares in the company, valued at $37,293,643.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lynn S. Mccreary sold 4,309 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $117.02, for a total transaction of $504,239.18. Following the completion of the transaction, the insider now owns 20,793 shares in the company, valued at $2,433,196.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,309 shares of company stock worth $8,231,609. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC increased its position in Fiserv by 0.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 4,011 shares of the business services provider’s stock valued at $426,000 after buying an additional 11 shares in the last quarter. LBA Wealth Management LLC increased its position in Fiserv by 0.4% in the fourth quarter. LBA Wealth Management LLC now owns 11,862 shares of the business services provider’s stock valued at $1,261,000 after buying an additional 50 shares in the last quarter. Cetera Advisors LLC increased its position in Fiserv by 2.3% in the third quarter. Cetera Advisors LLC now owns 4,424 shares of the business services provider’s stock valued at $441,000 after buying an additional 100 shares in the last quarter. Conning Inc. increased its position in Fiserv by 1.8% in the third quarter. Conning Inc. now owns 7,504 shares of the business services provider’s stock valued at $746,000 after buying an additional 130 shares in the last quarter. Finally, Cadence Bank NA increased its position in Fiserv by 4.6% in the fourth quarter. Cadence Bank NA now owns 3,711 shares of the business services provider’s stock valued at $395,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 86.46% 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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