Cantor Fitzgerald Analysts Raise Earnings Estimates for Fiserv Inc (FISV)
Fiserv Inc (NASDAQ:FISV) – Stock analysts at Cantor Fitzgerald boosted their FY2018 earnings per share (EPS) estimates for Fiserv in a research note issued to investors on Thursday. Cantor Fitzgerald analyst J. Foresi now anticipates that the business services provider will post earnings per share of $6.17 for the year, up from their prior estimate of $5.75. Cantor Fitzgerald has a “Hold” rating and a $126.00 price target on the stock. Cantor Fitzgerald also issued estimates for Fiserv’s FY2019 earnings at $7.00 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research raised Fiserv from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Barclays reissued a “hold” rating and set a $141.00 target price on shares of Fiserv in a report on Friday, January 5th. SunTrust Banks reissued a “hold” rating and set a $130.00 target price on shares of Fiserv in a report on Wednesday, November 1st. Credit Suisse Group increased their target price on Fiserv from $126.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Finally, Argus set a $148.00 target price on Fiserv and gave the stock a “buy” rating in a report on Friday, January 12th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $140.73.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.03. Fiserv had a return on equity of 44.58% and a net margin of 21.88%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis.
In related news, insider Jeffery W. Yabuki sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $128.35, for a total transaction of $256,700.00. Following the completion of the sale, the insider now directly owns 236,835 shares in the company, valued at approximately $30,397,772.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kevin J. Schultz sold 3,439 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $131.51, for a total value of $452,262.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,439 shares of company stock valued at $6,605,353. 1.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC bought a new stake in shares of Fiserv during the 4th quarter worth $118,000. Coastline Trust Co bought a new stake in shares of Fiserv during the 3rd quarter worth $202,000. Univest Corp of Pennsylvania bought a new stake in shares of Fiserv during the 4th quarter worth $202,000. Paragon Capital Management Ltd bought a new stake in shares of Fiserv during the 3rd quarter worth $206,000. Finally, Associated Banc Corp bought a new stake in shares of Fiserv during the 3rd quarter worth $261,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
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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