Wedbush Raises Fiserv (NASDAQ:FISV) Price Target to $105.00
Fiserv (NASDAQ:FISV) had its price objective boosted by Wedbush from $95.00 to $105.00 in a report published on Monday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the business services provider’s stock. Wedbush also issued estimates for Fiserv’s Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.84 EPS, Q4 2019 earnings at $0.96 EPS, Q3 2020 earnings at $0.95 EPS, Q4 2020 earnings at $1.06 EPS and FY2020 earnings at $3.86 EPS.
A number of other research analysts have also recently commented on the company. BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Deutsche Bank set a $137.00 price objective on Verisk Analytics and gave the company a hold rating in a report on Tuesday, April 23rd. Northcoast Research cut Illinois Tool Works from a neutral rating to a sell rating and set a $121.00 price objective on the stock. in a report on Wednesday, June 26th. Keefe, Bruyette & Woods initiated coverage on Fiserv in a report on Monday, April 8th. They issued a market perform rating and a $101.00 price objective on the stock. Finally, Moffett Nathanson initiated coverage on Fidelity National Information Servcs in a report on Tuesday, May 21st. They issued a buy rating and a $147.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. Fiserv currently has an average rating of Buy and an average target price of $93.17.
FISV stock opened at $94.11 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.45. The firm has a 50 day moving average of $90.80. The stock has a market capitalization of $36.85 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.27 and a beta of 0.78. Fiserv has a 1 year low of $68.45 and a 1 year high of $95.42.
In other news, insider Jeffery W. Yabuki sold 2,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $88.95, for a total value of $177,900.00. Following the sale, the insider now directly owns 371,429 shares in the company, valued at $33,038,609.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $89.23, for a total value of $1,784,600.00. Following the completion of the sale, the insider now owns 354,929 shares in the company, valued at $31,670,314.67. The disclosure for this sale can be found here. Insiders have sold 42,000 shares of company stock worth $3,672,300 over the last 90 days. 1.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Fiserv by 12.5% during the 4th quarter. Bessemer Group Inc. now owns 5,860 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 650 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Fiserv by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,436,558 shares of the business services provider’s stock valued at $105,572,000 after acquiring an additional 15,608 shares in the last quarter. Brown Advisory Inc. lifted its stake in Fiserv by 6.5% during the 4th quarter. Brown Advisory Inc. now owns 10,121 shares of the business services provider’s stock valued at $743,000 after acquiring an additional 617 shares in the last quarter. Geode Capital Management LLC lifted its stake in Fiserv by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 6,221,364 shares of the business services provider’s stock valued at $456,535,000 after acquiring an additional 469,507 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Fiserv during the 4th quarter valued at $267,000. Institutional investors and hedge funds own 87.39% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
Further Reading: Quiet Period
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