Credit Suisse Group Boosts Fiserv (FISV) Price Target to $140.00
Fiserv (NASDAQ:FISV) had its price objective raised by equities researchers at Credit Suisse Group from $126.00 to $140.00 in a research note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 1.81% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Fiserv from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Robert W. Baird reiterated an “outperform” rating and set a $146.00 target price (up previously from $136.00) on shares of Fiserv in a report on Tuesday, October 10th. Cowen reiterated a “hold” rating and set a $115.00 target price on shares of Fiserv in a report on Thursday, October 12th. Cantor Fitzgerald reiterated a “hold” rating and set a $126.00 target price on shares of Fiserv in a report on Wednesday, November 1st. Finally, SunTrust Banks reiterated a “hold” rating and set a $130.00 target price on shares of Fiserv in a report on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $133.72.
Fiserv (NASDAQ:FISV) traded up $0.29 during mid-day trading on Wednesday, hitting $137.51. The company’s stock had a trading volume of 924,800 shares, compared to its average volume of 811,520. Fiserv has a 1 year low of $104.51 and a 1 year high of $138.56. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $28,596.57, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.03). Fiserv had a return on equity of 43.56% and a net margin of 16.31%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $1.14 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. research analysts forecast that Fiserv will post 5.08 earnings per share for the current year.
In related news, insider Jeffery W. Yabuki sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $128.35, for a total value of $256,700.00. Following the sale, the insider now owns 236,835 shares in the company, valued at approximately $30,397,772.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin J. Schultz sold 3,439 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $131.51, for a total value of $452,262.89. The disclosure for this sale can be found here. Insiders sold a total of 32,439 shares of company stock worth $4,249,323 in the last 90 days. 1.80% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of FISV. Acrospire Investment Management LLC purchased a new stake in shares of Fiserv in the 2nd quarter worth approximately $122,000. Sun Life Financial INC lifted its position in Fiserv by 11,838.5% in the 2nd quarter. Sun Life Financial INC now owns 1,552 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,539 shares in the last quarter. Coastline Trust Co bought a new position in Fiserv in the 3rd quarter valued at approximately $202,000. Trustmark National Bank Trust Department bought a new position in Fiserv in the 2nd quarter valued at approximately $204,000. Finally, Paragon Capital Management Ltd bought a new position in Fiserv in the 3rd quarter valued at approximately $206,000. Institutional investors own 88.50% 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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