Wedbush Weighs in on Fiserv, Inc.’s Q3 2017 Earnings (FISV)
Fiserv, Inc. (NASDAQ:FISV) – Analysts at Wedbush dropped their Q3 2017 EPS estimates for Fiserv in a report issued on Tuesday. Wedbush analyst M. Katri now forecasts that the business services provider will post earnings per share of $1.30 for the quarter, down from their prior estimate of $1.31. Wedbush also issued estimates for Fiserv’s Q4 2017 earnings at $1.36 EPS, FY2017 earnings at $5.09 EPS, Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.39 EPS, Q3 2018 earnings at $1.48 EPS, Q4 2018 earnings at $1.55 EPS, FY2018 earnings at $5.77 EPS, Q1 2019 earnings at $1.51 EPS, Q2 2019 earnings at $1.49 EPS, Q3 2019 earnings at $1.62 EPS and FY2019 earnings at $6.31 EPS.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.04). Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $1.08 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Wedbush Weighs in on Fiserv, Inc.’s Q3 2017 Earnings (FISV)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/18/wedbush-weighs-in-on-fiserv-inc-s-q3-2017-earnings-fisv.html.
Other equities research analysts have also issued reports about the company. BidaskClub lowered Fiserv from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, July 19th. Guggenheim upgraded Fiserv from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $136.00 in a report on Monday, July 17th. Robert W. Baird reiterated a “buy” rating and set a $136.00 price target on shares of Fiserv in a report on Friday, September 8th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $123.00 price target (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $127.77.
Shares of Fiserv (NASDAQ FISV) opened at 126.63 on Wednesday. The firm has a 50-day moving average of $125.65 and a 200 day moving average of $122.89. Fiserv has a 12 month low of $92.81 and a 12 month high of $129.81. The firm has a market cap of $26.65 billion, a P/E ratio of 31.00 and a beta of 0.82.
Large investors have recently bought and sold shares of the stock. Gardiner Nancy B grew its holdings in shares of Fiserv by 6.5% during the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock worth $1,445,000 after buying an additional 762 shares in the last quarter. Atria Investments LLC bought a new position in shares of Fiserv during the second quarter worth about $201,000. Dupont Capital Management Corp grew its holdings in shares of Fiserv by 6.8% during the second quarter. Dupont Capital Management Corp now owns 12,967 shares of the business services provider’s stock worth $1,586,000 after buying an additional 826 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Fiserv by 2.2% during the second quarter. Great Lakes Advisors LLC now owns 17,228 shares of the business services provider’s stock worth $2,108,000 after buying an additional 378 shares in the last quarter. Finally, Tredje AP fonden grew its holdings in shares of Fiserv by 38.1% during the second quarter. Tredje AP fonden now owns 69,035 shares of the business services provider’s stock worth $8,446,000 after buying an additional 19,050 shares in the last quarter. Institutional investors and hedge funds own 87.70% of the company’s stock.
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 transaction of $762,682.96. Following the completion of the transaction, the director now directly owns 42,141 shares in the company, valued at $5,248,240.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $122.02, for a total value of $2,074,340.00. Following the transaction, 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. Insiders sold 57,124 shares of company stock valued at $7,113,543 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Fiserv Company Profile
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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