Fiserv, Inc. (FISV) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Fiserv, Inc. (NASDAQ:FISV) posted its earnings results on Tuesday. The business services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.23 by $0.04, Briefing.com reports. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.29%. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. Fiserv updated its FY17 guidance to $5.03 to $5.17 EPS.
Fiserv (NASDAQ:FISV) traded down 0.24% during midday trading on Thursday, reaching $123.67. The company’s stock had a trading volume of 473,563 shares. The company has a market cap of $26.26 billion, a PE ratio of 30.89 and a beta of 0.81. The stock has a 50-day moving average price of $124.64 and a 200 day moving average price of $118.43. Fiserv has a 12 month low of $92.81 and a 12 month high of $129.35.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the completion of the transaction, the insider now directly owns 286,151 shares in the company, valued at approximately $36,060,749.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 51,000 shares of company stock valued at $6,339,810 over the last 90 days. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC purchased a new position in Fiserv during the second quarter worth approximately $104,000. First Manhattan Co. raised its position in Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares during the period. Advisory Services Network LLC purchased a new position in Fiserv during the first quarter worth approximately $131,000. Trust Co. of Vermont raised its position in Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares during the period. Finally, Morgan Dempsey Capital Management LLC raised its position in Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.
Several brokerages recently issued reports on FISV. Cowen and Company reiterated a “hold” rating and issued a $115.00 price target on shares of Fiserv in a research note on Thursday. Credit Suisse Group boosted their price target on Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays PLC reiterated an “equal weight” rating and issued a $123.00 price target (up from $115.00) on shares of Fiserv in a research note on Wednesday. Royal Bank Of Canada boosted their price target on Fiserv from $123.00 to $128.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, BMO Capital Markets boosted their price target on Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $124.36.
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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