Fiserv (NASDAQ:FISV) Receives New Coverage from Analysts at Bank of America

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Stock analysts at Bank of America initiated coverage on shares of Fiserv (NASDAQ:FISV) in a research note issued on Tuesday, The Fly reports. The firm set a “buy” rating on the business services provider’s stock.

A number of other research firms also recently issued reports on FISV. UBS Group initiated coverage on shares of Fiserv in a research report on Monday, October 14th. They issued a “buy” rating and a $120.00 target price for the company. Robert W. Baird boosted their price target on shares of Fiserv from $112.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Canaccord Genuity started coverage on shares of Fiserv in a research note on Thursday, September 12th. They issued a “buy” rating and a $130.00 price target on the stock. Oppenheimer upped their price target on shares of Fiserv from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. began coverage on Fiserv in a report on Wednesday, October 30th. They set a “neutral” rating and a $119.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $108.24.

Shares of FISV opened at $114.28 on Tuesday. The company has a market capitalization of $79.03 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 2.42 and a beta of 0.80. Fiserv has a fifty-two week low of $68.45 and a fifty-two week high of $117.04. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day moving average is $109.27 and its 200-day moving average is $100.87.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Fiserv had a net margin of 12.11% and a return on equity of 16.73%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Equities research analysts expect that Fiserv will post 4.01 earnings per share for the current fiscal year.

In other news, CEO Jeffery W. Yabuki sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $103.67, for a total transaction of $2,591,750.00. Following the completion of the sale, the chief executive officer now owns 271,229 shares in the company, valued at approximately $28,118,310.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harry Disimone acquired 900 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $116.04 per share, for a total transaction of $104,436.00. Following the acquisition, the director now owns 5,929 shares in the company, valued at approximately $688,001.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 128,000 shares of company stock worth $14,104,970. Corporate insiders own 1.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. ETF Managers Group LLC raised its position in shares of Fiserv by 44.3% in the second quarter. ETF Managers Group LLC now owns 345,087 shares of the business services provider’s stock valued at $31,344,000 after purchasing an additional 105,957 shares during the period. Close Asset Management Ltd raised its holdings in Fiserv by 3.6% in the 2nd quarter. Close Asset Management Ltd now owns 1,107,701 shares of the business services provider’s stock worth $100,972,000 after acquiring an additional 38,799 shares during the period. Conning Inc. raised its holdings in Fiserv by 13.1% in the 3rd quarter. Conning Inc. now owns 8,027 shares of the business services provider’s stock worth $832,000 after acquiring an additional 930 shares during the period. Hartford Investment Management Co. lifted its position in Fiserv by 0.7% during the 2nd quarter. Hartford Investment Management Co. now owns 43,219 shares of the business services provider’s stock worth $3,940,000 after acquiring an additional 302 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Fiserv by 5.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 84,043 shares of the business services provider’s stock worth $7,661,000 after acquiring an additional 4,230 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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The Fly

Analyst Recommendations for Fiserv (NASDAQ:FISV)

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