Fiserv, Inc. (FISV) Rating Reiterated by SunTrust Banks, Inc.
Fiserv, Inc. (NASDAQ:FISV)‘s stock had its “hold” rating restated by investment analysts at SunTrust Banks, Inc. in a research report issued on Wednesday. They currently have a $130.00 price target on the business services provider’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 0.44% from the company’s previous close.
Several other analysts also recently commented on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $126.00 target price on shares of Fiserv in a research note on Wednesday. Zacks Investment Research upgraded shares of Fiserv from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Cowen and Company reiterated a “hold” rating and set a $115.00 target price on shares of Fiserv in a research note on Thursday, October 12th. Robert W. Baird reiterated an “outperform” rating and set a $146.00 target price (up from $136.00) on shares of Fiserv in a research note on Tuesday, October 10th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $128.00 price objective on shares of Fiserv in a research note on Sunday, October 8th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $128.45.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data 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). Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.
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In other news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were 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 approximately $32,841,805.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim M. Robak sold 6,124 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were 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 approximately $5,248,240.14. The disclosure for this sale can be found here. Insiders sold a total of 57,124 shares of company stock worth $7,133,943 in the last ninety days. Insiders own 1.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Fiserv by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,301,552 shares of the business services provider’s stock worth $2,606,032,000 after buying an additional 518,262 shares during the period. BlackRock Inc. raised its holdings in Fiserv by 3.7% during the 2nd quarter. BlackRock Inc. now owns 14,873,800 shares of the business services provider’s stock worth $1,819,663,000 after buying an additional 528,274 shares during the period. FMR LLC raised its holdings in Fiserv by 0.7% during the 2nd quarter. FMR LLC now owns 6,907,966 shares of the business services provider’s stock worth $845,121,000 after buying an additional 47,797 shares during the period. Longview Partners Guernsey LTD raised its holdings in Fiserv by 23.3% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,391,519 shares of the business services provider’s stock worth $695,290,000 after buying an additional 1,020,121 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Fiserv by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,527,505 shares of the business services provider’s stock worth $431,555,000 after buying an additional 232,005 shares during the period. Institutional investors and hedge funds own 87.85% 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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