Fiserv (NASDAQ:FISV) Stock Picked Up by Analysts at Bank of America

Investment analysts at Bank of America began coverage on shares of Fiserv (NASDAQ:FISV) in a research report issued to clients and investors on Thursday. The brokerage set an “underperform” rating and a $48.00 price target on the business services provider’s stock. Bank of America‘s target price suggests a potential upside of 2.43% from the stock’s current price.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Weiss Ratings upgraded Fiserv from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $53.00 target price on shares of Fiserv in a research report on Monday, August 31st. Keefe, Bruyette & Woods cut their target price on Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Citigroup restated a “neutral” rating and issued a $57.00 target price (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.47.

Fiserv Stock Up 1.7%

Shares of NASDAQ:FISV traded up $0.79 during midday trading on Thursday, reaching $46.86. 482,356 shares of the company were exchanged, compared to its average volume of 7,583,164. The firm has a market cap of $24.92 billion, a PE ratio of 8.99, a P/E/G ratio of 4.66 and a beta of 0.80. Fiserv has a fifty-two week low of $43.87 and a fifty-two week high of $128.78. The stock has a fifty day simple moving average of $49.68 and a two-hundred day simple moving average of $52.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last announced its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fiserv will post 7.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lance Fritz purchased 10,000 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director directly owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently made changes to their positions in FISV. ZWJ Investment Counsel Inc. lifted its stake in Fiserv by 32.4% in the third quarter. ZWJ Investment Counsel Inc. now owns 59,145 shares of the business services provider’s stock valued at $2,672,000 after acquiring an additional 14,464 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Fiserv in the 3rd quarter valued at about $719,000. Focus Financial Network Inc. increased its stake in shares of Fiserv by 3.9% during the 3rd quarter. Focus Financial Network Inc. now owns 12,103 shares of the business services provider’s stock worth $547,000 after purchasing an additional 459 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its stake in shares of Fiserv by 17.0% during the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 12,888 shares of the business services provider’s stock worth $582,000 after purchasing an additional 1,877 shares during the last quarter. Finally, Thor Investment Management Inc. OH ADV raised its holdings in shares of Fiserv by 16.2% in the 3rd quarter. Thor Investment Management Inc. OH ADV now owns 84,565 shares of the business services provider’s stock valued at $3,821,000 after purchasing an additional 11,771 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Company Profile

Fiserv, Inc is a global financial technology company that provides payments and financial services technology to banks, credit unions, merchants and other businesses. Its offerings support electronic payments, account processing, digital banking, merchant acquiring, fraud prevention and related financial services operations.

The company’s products and platforms include Clover, a point-of-sale and business management system for small and midsize businesses; Carat, which provides enterprise commerce and payment solutions; and services that help financial institutions manage accounts, digital channels, card programs, payments and data.