Fiserv, Inc. (NASDAQ:FISV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, November 2nd.
According to Zacks, “Fiserv’s third-quarter results missed estimates but showed a year-over-year improvement. The company’s focus on expanding its product portfolio is a key growth driver. Product-oriented acquisitions are leading to a steady flow of customers while investment in digital-oriented technologies is improving its competitiveness. Fiserv is benefiting from the growing adoption of DNA, Zelle and other digital banking solutions among the banks and credit unions.However, thecompany’s highly leveraged balance sheet continues to weigh on its profitability. Moreover, lower termination fees, EMV deferral and adverse foreign currency translations are negatively impacting the company’s sales.Notably, shares underperformed the industry on a year-to-date basis.”
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $136.00 price target on shares of Fiserv in a report on Friday, September 8th. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the stock from $131.00 to $136.00 in a research report on Monday, July 17th. Barclays PLC reaffirmed an “equal weight” rating and set a $123.00 price objective (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $128.00 price objective on shares of Fiserv in a research note on Sunday, October 8th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fiserv currently has a consensus rating of “Hold” and an average target price of $128.45.
Fiserv (NASDAQ:FISV) traded up $0.16 during midday trading on Thursday, reaching $128.16. The company had a trading volume of 693,400 shares, compared to its average volume of 867,757. The company has a market capitalization of $26,675.12, a P/E ratio of 26.28, a PEG ratio of 2.19 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.14. Fiserv has a fifty-two week low of $100.03 and a fifty-two week high of $130.20.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.45 billion. Fiserv had a net margin of 16.31% and a return on equity of 43.56%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. equities research analysts predict that Fiserv will post 5.08 EPS for the current year.
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In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the completion of the transaction, the insider now owns 269,151 shares of the company’s stock, valued at $32,841,805.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kim M. Robak sold 6,124 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $124.54, for a total transaction of $762,682.96. Following the transaction, the director now directly owns 42,141 shares of the company’s stock, valued at approximately $5,248,240.14. The disclosure for this sale can be found here. Insiders have sold 57,124 shares of company stock worth $7,133,943 over the last three months. 1.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FISV. Parallel Advisors LLC boosted its stake in shares of Fiserv by 8.2% during the 2nd 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. Chicago Partners Investment Group LLC bought a new position in Fiserv during the second quarter valued at about $104,000. Acrospire Investment Management LLC bought a new position in Fiserv during the second quarter valued at about $122,000. Trust Co. of Vermont boosted its stake in Fiserv by 53.3% during the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock valued at $159,000 after buying an additional 453 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in Fiserv by 11,838.5% during the second quarter. Sun Life Financial INC now owns 1,552 shares of the business services provider’s stock valued at $190,000 after buying an additional 1,539 shares in the last quarter. 89.41% of the stock is currently owned by 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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