Royal Bank Of Canada Reiterates “Sector Perform” Rating for Fiserv, Inc. (FISV)
Fiserv, Inc. (NASDAQ:FISV)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank Of Canada in a research note issued on Tuesday. They currently have a $128.00 price target on the business services provider’s stock, up from their previous price target of $123.00. Royal Bank Of Canada’s price target would indicate a potential upside of 3.58% from the company’s current price.
A number of other research analysts have also issued reports on the stock. Cowen and Company restated a “hold” rating and set a $115.00 target price on shares of Fiserv in a research report on Thursday, August 3rd. Credit Suisse Group increased their target price on shares of Fiserv from $123.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Barclays PLC restated an “equal weight” rating and set a $123.00 target price (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. BMO Capital Markets increased their target price on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $126.91.
Fiserv (NASDAQ FISV) traded down 0.40% during midday trading on Tuesday, reaching $123.58. The company’s stock had a trading volume of 510,336 shares. Fiserv has a 52 week low of $92.81 and a 52 week high of $129.35. The firm has a market cap of $26.73 billion, a P/E ratio of 30.25 and a beta of 0.81. The firm has a 50 day moving average price of $124.54 and a 200-day moving average price of $118.55.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.04. The company 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 firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. On average, analysts forecast that Fiserv will post $5.10 earnings per share for the current fiscal year.
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In other news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’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 completion of the transaction, the insider now owns 286,151 shares of the company’s stock, valued at $36,060,749.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 51,000 shares of company stock valued at $6,339,810 in the last ninety days. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Gardiner Nancy B increased its position in Fiserv by 6.5% in the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock valued at $1,445,000 after buying an additional 762 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its position in 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. British Columbia Investment Management Corp increased its position in Fiserv by 6.3% in the first quarter. British Columbia Investment Management Corp now owns 84,563 shares of the business services provider’s stock valued at $9,751,000 after buying an additional 5,016 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Fiserv by 25.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 16,179 shares of the business services provider’s stock valued at $1,866,000 after buying an additional 3,304 shares during the last quarter. Finally, University of Texas Investment Managment Co. acquired a new position in Fiserv during the first quarter valued at about $184,000. 87.60% of the stock is owned by hedge funds and other 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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