Fiserv, Inc. (FISV) Rating Reiterated by Cowen and Company
Fiserv, Inc. (NASDAQ:FISV)‘s stock had its “hold” rating reiterated by analysts at Cowen and Company in a research note issued on Thursday. They presently have a $115.00 price target on the business services provider’s stock. Cowen and Company’s price objective suggests a potential downside of 9.51% from the company’s previous close.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Fiserv from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $128.00 price target (up from $123.00) on shares of Fiserv in a report on Tuesday, August 8th. Credit Suisse Group increased their price objective on Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Guggenheim raised Fiserv from a “neutral” rating to a “buy” rating and increased their price objective for the company from $131.00 to $136.00 in a research note on Monday, July 17th. Finally, Robert W. Baird restated an “outperform” rating and issued a $134.00 target price (up from $128.00) on shares of Fiserv in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $127.77.
Shares of Fiserv (NASDAQ FISV) traded down 0.07% on Thursday, reaching $127.08. 702,777 shares of the company’s stock traded hands. Fiserv has a 12-month low of $92.81 and a 12-month high of $129.81. The stock has a 50-day moving average of $125.55 and a 200 day moving average of $122.79. The firm has a market cap of $26.75 billion, a P/E ratio of 31.11 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.04). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, equities research analysts expect that Fiserv will post $5.10 earnings per share for the current year.
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In related news, 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 value of $762,682.96. Following the completion of the transaction, the director now owns 42,141 shares of the company’s stock, valued at $5,248,240.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.02, for a total value of $2,142,340.00. Following the completion of the transaction, the insider now directly owns 286,151 shares of the company’s stock, valued at approximately $36,060,749.02. The disclosure for this sale can be found here. Insiders sold 57,124 shares of company stock valued at $7,113,543 in the last three months. 1.80% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new position in Fiserv in the 2nd quarter worth approximately $104,000. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 64 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Fiserv during the 2nd quarter valued at $122,000. Trust Co. of Vermont boosted its stake in Fiserv by 53.3% during the 2nd quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 453 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in Fiserv by 11,838.5% during the 2nd quarter. Sun Life Financial INC now owns 1,552 shares of the business services provider’s stock valued at $190,000 after purchasing an additional 1,539 shares in the last quarter. Institutional investors and hedge funds own 87.72% 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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