Royal Bank Of Canada reissued their sector perform rating on shares of Fiserv, Inc. (NASDAQ:FISV) in a report published on Tuesday. Royal Bank Of Canada currently has a $128.00 target price on the business services provider’s stock, up from their previous target price of $123.00.
FISV has been the topic of several other reports. Guggenheim upgraded shares of Fiserv from a neutral rating to a buy rating and boosted their target price for the company from $131.00 to $136.00 in a report on Monday, July 17th. BidaskClub lowered shares of Fiserv from a strong-buy rating to a buy rating in a report on Wednesday, July 5th. Credit Suisse Group reiterated a hold rating and issued a $116.00 target price on shares of Fiserv in a report on Friday, April 28th. Cantor Fitzgerald reiterated a hold rating and issued a $118.00 target price on shares of Fiserv in a report on Tuesday, June 20th. Finally, Robert W. Baird reiterated an outperform rating and issued a $134.00 target price (up from $128.00) on shares of Fiserv in a report on Wednesday, June 14th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $126.91.
Shares of Fiserv (FISV) traded up 0.29% on Tuesday, hitting $122.84. 449,430 shares of the company were exchanged. The firm’s 50-day moving average is $124.30 and its 200-day moving average is $119.03. The stock has a market capitalization of $25.85 billion, a PE ratio of 30.07 and a beta of 0.81. Fiserv has a 52-week low of $92.81 and a 52-week high of $129.35.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.04. 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 41.79%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Equities research analysts predict that Fiserv will post $5.10 earnings per share for the current year.
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In other news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total value of $2,126,020.00. Following the sale, the insider now directly owns 303,151 shares of the company’s stock, valued at approximately $37,912,064.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 51,000 shares of company stock worth $6,339,810 over the last three months. Insiders own 1.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. First Manhattan Co. increased its stake in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock valued at $102,000 after buying an additional 134 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Fiserv during the second quarter valued at $104,000. Parallel Advisors LLC increased its stake in shares of Fiserv by 8.2% in the second quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock valued at $109,000 after buying an additional 64 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Fiserv during the second quarter valued at $122,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Fiserv during the first quarter valued at $131,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
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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