Oppenheimer Holdings Brokers Raise Earnings Estimates for Fiserv, Inc. (FISV)
Fiserv, Inc. (NASDAQ:FISV) – Analysts at Oppenheimer Holdings upped their Q4 2017 EPS estimates for Fiserv in a research note issued on Tuesday. Oppenheimer Holdings analyst G. Greene now expects that the business services provider will post earnings of $1.35 per share for the quarter, up from their previous estimate of $1.32. Oppenheimer Holdings also issued estimates for Fiserv’s Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.42 EPS, Q4 2018 earnings at $1.50 EPS and FY2018 earnings at $5.67 EPS.
Several other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Fiserv from a “sell” rating to a “hold” rating in a research report on Thursday. SunTrust Banks, Inc. restated a “hold” rating and set a $130.00 price objective on shares of Fiserv in a research report on Wednesday. Cantor Fitzgerald restated a “hold” rating and set a $126.00 price objective on shares of Fiserv in a research report on Wednesday. Cowen and Company restated a “hold” rating and set a $115.00 price objective on shares of Fiserv in a research report on Thursday, October 12th. Finally, Robert W. Baird restated an “outperform” rating and set a $146.00 price objective (up from $136.00) on shares of Fiserv in a research report on Tuesday, October 10th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $128.45.
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Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.45 billion. Fiserv had a return on equity of 43.56% and a net margin of 16.31%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the completion of the transaction, the insider now directly owns 269,151 shares in the company, valued at $32,841,805.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim M. Robak sold 6,124 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $124.54, for a total transaction of $762,682.96. Following the transaction, the director now owns 42,141 shares of the company’s stock, valued at $5,248,240.14. The disclosure for this sale can be found here. Insiders have sold 57,124 shares of company stock valued at $7,133,943 over the last quarter. Company insiders own 1.80% of the company’s stock.
Several institutional investors have recently modified their holdings of FISV. BlackRock Inc. grew its stake in shares of Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock worth $1,654,185,000 after purchasing an additional 13,827,530 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Fiserv by 267.7% in the second quarter. Janus Henderson Group PLC now owns 1,868,168 shares of the business services provider’s stock worth $228,551,000 after purchasing an additional 1,360,102 shares during the last quarter. Longview Partners Guernsey LTD grew its stake in shares of Fiserv by 23.3% in the third quarter. Longview Partners Guernsey LTD now owns 5,391,519 shares of the business services provider’s stock worth $695,290,000 after purchasing an additional 1,020,121 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Fiserv by 116.6% in the second quarter. Voya Investment Management LLC now owns 1,665,267 shares of the business services provider’s stock worth $203,729,000 after purchasing an additional 896,418 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Fiserv by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,301,552 shares of the business services provider’s stock worth $2,606,032,000 after purchasing an additional 518,262 shares during the last quarter. 87.85% 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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