Fiserv, Inc. (FISV) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Fiserv, Inc. (NASDAQ:FISV) from a sell rating to a hold rating in a research report released on Thursday.
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.”
Other research analysts also recently issued reports about the company. BidaskClub downgraded Fiserv from a strong-buy rating to a buy rating in a report on Tuesday, August 22nd. Robert W. Baird reissued a buy rating and issued a $136.00 price objective on shares of Fiserv in a research report on Friday, September 8th. Guggenheim raised Fiserv from a neutral rating to a buy rating and raised their price objective for the stock from $131.00 to $136.00 in a research report on Monday, July 17th. Barclays PLC reissued an equal weight rating and issued a $123.00 price objective (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a hold rating and issued a $128.00 price objective on shares of Fiserv in a research report on Sunday, October 8th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Fiserv currently has an average rating of Hold and a consensus price target of $128.45.
Fiserv (NASDAQ:FISV) traded down $0.22 on Thursday, reaching $126.81. The company’s stock had a trading volume of 235,530 shares, compared to its average volume of 1,068,434. The stock has a market cap of $26,472.97, a P/E ratio of 26.08, a P/E/G ratio of 2.17 and a beta of 0.82. Fiserv has a one year low of $97.06 and a one year high of $130.20. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.01 and a quick ratio of 1.01.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). Fiserv had a net margin of 16.31% and a return on equity of 43.56%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. equities analysts anticipate that Fiserv will post 5.09 EPS for the current year.
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In other news, Director Kim M. Robak sold 6,124 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $124.54, for a total value of $762,682.96. Following the completion of the sale, the director now directly owns 42,141 shares in the company, valued at $5,248,240.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total value of $2,074,340.00. Following the completion of the sale, the insider now owns 269,151 shares of the company’s stock, valued at $32,841,805.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,124 shares of company stock valued at $7,133,943. 1.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of FISV. Elefante Mark B lifted its holdings in Fiserv by 0.3% in the second quarter. Elefante Mark B now owns 5,715 shares of the business services provider’s stock valued at $699,000 after acquiring an additional 15 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its holdings in Fiserv by 0.6% in the second quarter. Roberts Glore & Co. Inc. IL now owns 3,290 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 20 shares during the last quarter. Nwam LLC lifted its holdings in Fiserv by 1.9% in the second quarter. Nwam LLC now owns 1,871 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 35 shares during the last quarter. OLD National Bancorp IN lifted its holdings in Fiserv by 2.8% in the second quarter. OLD National Bancorp IN now owns 1,912 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 52 shares during the last quarter. Finally, Burney Co. lifted its holdings in Fiserv by 0.7% in the second quarter. Burney Co. now owns 8,473 shares of the business services provider’s stock valued at $1,030,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 88.43% 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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