Fiserv, Inc. (FISV) Cut to Buy at BidaskClub
BidaskClub downgraded shares of Fiserv, Inc. (NASDAQ:FISV) from a strong-buy rating to a buy rating in a research note released on Tuesday.
A number of other research analysts have also issued reports on the company. Royal Bank Of Canada reaffirmed a sector perform rating and set a $128.00 target price (up from $123.00) on shares of Fiserv in a report on Tuesday, August 8th. Cowen and Company reaffirmed a hold rating and set a $115.00 target price on shares of Fiserv in a report on Thursday, August 3rd. Credit Suisse Group lifted their target price on Fiserv from $123.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, August 2nd. Barclays PLC reaffirmed an equal weight rating and set a $123.00 target price (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Finally, BMO Capital Markets lifted their target price on Fiserv from $112.00 to $133.00 and gave the stock a market perform rating in a report on Tuesday, August 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $126.91.
Fiserv (FISV) traded up 0.32% during mid-day trading on Tuesday, reaching $121.90. 227,980 shares of the company traded hands. Fiserv has a 52 week low of $92.81 and a 52 week high of $129.35. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 29.84 and a beta of 0.81. The stock’s 50 day moving average price is $124.14 and its 200 day moving average price is $120.00.
Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 41.79% and a net margin of 16.04%. Fiserv’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. Equities analysts forecast that Fiserv will post $5.10 EPS for the current year.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the completion of the sale, the insider now directly owns 303,151 shares in the company, valued at approximately $37,912,064.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 51,000 shares of company stock worth $6,342,700 in the last three months. 1.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock worth $1,654,185,000 after buying an additional 13,827,530 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Fiserv by 267.7% in the second quarter. Janus Henderson Group PLC now owns 1,868,168 shares of the business services provider’s stock worth $228,551,000 after buying an additional 1,360,102 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Fiserv by 116.6% in the second quarter. Voya Investment Management LLC now owns 1,665,267 shares of the business services provider’s stock worth $203,729,000 after buying an additional 896,418 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Fiserv by 2.5% in the second 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 last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Fiserv by 232.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 449,774 shares of the business services provider’s stock worth $55,025,000 after buying an additional 314,674 shares during the last quarter. Hedge funds and other institutional investors own 88.03% 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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