Fiserv, Inc. (FISV) Upgraded to Hold at Zacks Investment Research
Fiserv, Inc. (NASDAQ:FISV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Fiserv’s third-quarter results missed estimates but showed a year-over-year improvement. The company’s focus on expanding its product portfolio is a key growth driver. Product-oriented acquisitions are leading to a steady flow of customers while investment in digital-oriented technologies is improving its competitiveness. Fiserv is benefiting from the growing adoption of DNA, Zelle and other digital banking solutions among the banks and credit unions.However, thecompany’s highly leveraged balance sheet continues to weigh on its profitability. Moreover, lower termination fees, EMV deferral and adverse foreign currency translations are negatively impacting the company’s sales.Notably, shares underperformed the industry on a year-to-date basis.”
A number of other brokerages have also recently issued reports on FISV. SunTrust Banks, Inc. reiterated a “hold” rating and set a $130.00 price objective on shares of Fiserv in a research note on Wednesday. Cantor Fitzgerald reissued a “hold” rating and set a $126.00 target price on shares of Fiserv in a report on Wednesday. Royal Bank Of Canada boosted their target price on Fiserv from $123.00 to $128.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. Barclays PLC reissued an “equal weight” rating and set a $123.00 target price (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Finally, BMO Capital Markets boosted their target price on Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $128.45.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). Fiserv had a return on equity of 43.10% and a net margin of 16.31%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $127.22, for a total transaction of $2,162,740.00. Following the completion of the sale, the insider now directly owns 313,835 shares in the company, valued at approximately $39,926,088.70. The sale was disclosed in a filing with the SEC, which is available 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 value of $762,682.96. Following the sale, 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. Over the last three months, insiders have sold 57,124 shares of company stock worth $7,133,943. 1.80% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in FISV. Eagle Asset Management lifted its position in shares of Fiserv by 94.6% during the 3rd quarter. Eagle Asset Management now owns 87,700 shares of the business services provider’s stock worth $7,594,000 after buying an additional 42,636 shares during the last quarter. Janus Capital Management lifted its position in shares of Fiserv by 5.4% during the 3rd quarter. Janus Capital Management now owns 2,888,601 shares of the business services provider’s stock worth $250,181,000 after buying an additional 146,781 shares during the last quarter. Patton Albertson & Miller lifted its position in shares of Fiserv by 0.9% during the 4th quarter. Patton Albertson & Miller now owns 35,744 shares of the business services provider’s stock worth $3,269,000 after buying an additional 318 shares during the last quarter. Indiana Trust & Investment Management Company lifted its position in shares of Fiserv by 5.1% during the 4th quarter. Indiana Trust & Investment Management Company now owns 35,749 shares of the business services provider’s stock worth $2,537,000 after buying an additional 1,720 shares during the last quarter. Finally, Woodstock lifted its position in shares of Fiserv by 54.5% during the 4th quarter. Woodstock now owns 16,025 shares of the business services provider’s stock worth $1,466,000 after buying an additional 5,650 shares during the last quarter. 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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