Fiserv, Inc. (FISV) Stock Rating Upgraded by Zacks Investment Research
Fiserv, Inc. (NASDAQ:FISV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $140.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.95% from the stock’s current price.
According to Zacks, “Fiserv has outperformed the S&P 500 index on a year-to-date basis. Meanwhile, estimates have been stable lately ahead of the company's Q2 earnings release. The company has positive record of earnings surprises in recent quarters. We note that the company has a leading position in the financial and payments solutions business along with broad and diverse customer base, strong product portfolio and high recurring revenues. We believe that these along with new customer win will drive future growth for the company. The company is also expected to benefit from its five year cost cutting program. Nonetheless, we continue to be wary of stricter regulations in the banking/financial services industry and stiff competition.”
Several other research firms have also recently weighed in on FISV. Monness Crespi & Hardt increased their price target on shares of Fiserv from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Vetr raised shares of Fiserv from a “sell” rating to a “buy” rating and set a $121.50 price target for the company in a research note on Monday, April 3rd. Guggenheim raised shares of Fiserv from a “neutral” rating to a “buy” rating and increased their price target for the company from $131.00 to $136.00 in a research note on Monday. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $118.00 price target on shares of Fiserv in a research note on Tuesday, June 20th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $121.12.
Fiserv (FISV) traded up 0.64% on Wednesday, reaching $125.86. The company had a trading volume of 159,647 shares. The company’s 50-day moving average price is $123.96 and its 200 day moving average price is $117.17. Fiserv has a 1-year low of $92.81 and a 1-year high of $127.10. The firm has a market capitalization of $26.73 billion, a P/E ratio of 31.44 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Wednesday, April 26th. The business services provider reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Fiserv had a net margin of 15.95% and a return on equity of 40.28%. Fiserv’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, equities analysts forecast that Fiserv will post $5.12 EPS for the current year.
In related news, insider Jeffery W. Yabuki sold 2,000 shares of Fiserv stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $120.19, for a total transaction of $240,380.00. Following the sale, the insider now directly owns 337,151 shares in the company, valued at approximately $40,522,178.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the sale, the insider now owns 303,151 shares in the company, valued at $37,912,064.06. The disclosure for this sale can be found here. Insiders sold a total of 36,000 shares of company stock worth $4,437,850 over the last 90 days. Company insiders own 1.90% of the company’s stock.
A number of large investors have recently made changes to their positions in FISV. BlackRock Inc. raised 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 valued at $1,654,185,000 after buying an additional 13,827,530 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Fiserv by 152.1% in the first quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock valued at $53,001,000 after buying an additional 277,357 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fiserv by 1.2% in the first quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock valued at $2,396,522,000 after buying an additional 255,329 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Fiserv by 282.4% in the first quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after buying an additional 255,125 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Fiserv by 155.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 381,807 shares of the business services provider’s stock valued at $44,026,000 after buying an additional 232,364 shares during the last quarter. Hedge funds and other institutional investors own 87.68% 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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