Fiserv (NASDAQ:FISV) Downgraded to Strong Sell Rating by Zacks Research

Fiserv (NASDAQ:FISV) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

FISV has been the topic of a number of other research reports. Loop Capital lowered their price target on Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Barclays set a $52.00 price objective on Fiserv and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Fiserv from $63.00 to $60.00 in a research note on Monday, May 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price target (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.20.

Fiserv Stock Down 1.3%

FISV stock opened at $51.38 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $27.32 billion, a P/E ratio of 9.86, a P/E/G ratio of 3.91 and a beta of 0.80. Fiserv has a 52-week low of $47.04 and a 52-week high of $140.19. The company’s 50 day simple moving average is $51.36 and its 200-day simple moving average is $55.87.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The firm 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 for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Fiserv will post 7.27 EPS for the current year.

Insider Buying and Selling at Fiserv

In related news, CFO Paul M. Todd purchased 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, with a total value of $499,982.00. Following the completion of the transaction, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lance M. Fritz purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $51.95 per share, with a total value of $519,500.00. Following the purchase, the director owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Several institutional investors and hedge funds have recently added to or reduced their stakes in FISV. Secure Asset Management LLC boosted its position in Fiserv by 12.6% during the second quarter. Secure Asset Management LLC now owns 4,181 shares of the business services provider’s stock worth $205,000 after purchasing an additional 468 shares during the period. Keeler Thomas Management LLC lifted its stake in shares of Fiserv by 25.1% in the second quarter. Keeler Thomas Management LLC now owns 6,612 shares of the business services provider’s stock worth $324,000 after buying an additional 1,327 shares during the last quarter. Kerrisdale Advisers LLC lifted its stake in shares of Fiserv by 369.4% in the second quarter. Kerrisdale Advisers LLC now owns 35,815 shares of the business services provider’s stock worth $1,757,000 after buying an additional 28,185 shares during the last quarter. Quantitative Investment Management LLC boosted its holdings in shares of Fiserv by 103.6% during the 2nd quarter. Quantitative Investment Management LLC now owns 31,453 shares of the business services provider’s stock worth $1,542,000 after buying an additional 16,001 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of Fiserv by 5.7% during the 2nd quarter. Wedbush Securities Inc. now owns 5,394 shares of the business services provider’s stock worth $265,000 after buying an additional 293 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Company Profile

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.