Fiserv, Inc. (FISV) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research cut shares of Fiserv, Inc. (NASDAQ:FISV) from a hold rating to a sell rating in a research report released on Wednesday.
According to Zacks, “Fiserv has underperformed the industry on a year-to-date basis. Fiserv’s core banking products and services are part of a highly competitive market. Given the attractive prospects in the financial services market, there are always new entrants who seek to leverage on shifts in technology or product innovation to attract customers. Stricter regulations in the banking/financial services industry also pose concern. Further, the company’s highly leveraged balance sheet will continue to weigh on its profitability. However, product-oriented acquisitions are leading to a steady flow of customers and investment in digital-oriented technologies is improving its competitiveness. The company is also expected to benefit from its five year cost cutting program.”
Several other research analysts have also recently issued reports on FISV. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $128.00 price target (up previously from $123.00) on shares of Fiserv in a report on Tuesday, August 8th. BidaskClub cut Fiserv from a strong-buy rating to a buy rating in a report on Tuesday, August 22nd. Barclays PLC reaffirmed an equal weight rating and issued a $123.00 price target (up previously from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a hold rating and issued a $115.00 price target on shares of Fiserv in a report on Thursday, August 3rd. Finally, Credit Suisse Group upped their price target on Fiserv from $123.00 to $126.00 and gave the company a neutral rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Fiserv presently has a consensus rating of Hold and an average price target of $127.05.
Fiserv (NASDAQ:FISV) traded up 0.26% during trading on Wednesday, reaching $128.91. The company had a trading volume of 681,069 shares. The company has a 50-day moving average of $124.43 and a 200-day moving average of $122.26. The firm has a market capitalization of $27.13 billion, a P/E ratio of 31.56 and a beta of 0.82. Fiserv has a 52-week low of $92.81 and a 52-week high of $129.81.
Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.04). The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. Fiserv’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. Analysts expect that Fiserv will post $5.10 EPS for the current fiscal year.
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In other Fiserv news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $124.54, for a total transaction of $762,682.96. Following the sale, the director now directly owns 42,141 shares of the company’s stock, valued at approximately $5,248,240.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the sale, the insider now directly owns 286,151 shares in the company, valued at $36,060,749.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,124 shares of company stock worth $7,113,543. Company insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. Gardiner Nancy B raised its stake in Fiserv by 6.5% during the 1st quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock valued at $1,445,000 after purchasing an additional 762 shares during the period. Atria Investments LLC purchased a new position in shares of Fiserv during the 2nd quarter valued at $201,000. Dupont Capital Management Corp grew its holdings in shares of Fiserv by 6.8% during the 2nd quarter. Dupont Capital Management Corp now owns 12,967 shares of the business services provider’s stock valued at $1,586,000 after acquiring an additional 826 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Fiserv by 2.2% during the 2nd quarter. Great Lakes Advisors LLC now owns 17,228 shares of the business services provider’s stock valued at $2,108,000 after acquiring an additional 378 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of Fiserv by 755.0% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 102,600 shares of the business services provider’s stock valued at $12,552,000 after acquiring an additional 90,600 shares in the last quarter. 87.72% 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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