Analysts at Compass Point initiated coverage on shares of Fiserv (NASDAQ:FISV) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the business services provider’s stock.
A number of other analysts also recently issued reports on the company. Wedbush restated an “outperform” rating on shares of Fiserv in a research report on Wednesday, July 22nd. Argus reduced their target price on Fiserv from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Morgan Stanley increased their target price on Fiserv from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Sanford C. Bernstein started coverage on Fiserv in a research note on Tuesday, August 18th. They issued a “market perform” rating and a $104.00 target price on the stock. Finally, Raymond James reduced their target price on Fiserv from $125.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.92.
FISV traded up $1.67 during trading on Wednesday, reaching $102.26. The company had a trading volume of 7,865,361 shares, compared to its average volume of 4,737,160. The stock has a market cap of $68.48 billion, a P/E ratio of 81.16, a PEG ratio of 1.29 and a beta of 0.79. The business has a 50 day simple moving average of $99.04 and a 200-day simple moving average of $99.59. Fiserv has a 52 week low of $73.50 and a 52 week high of $125.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.65.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Fiserv had a return on equity of 8.34% and a net margin of 5.82%. As a group, equities research analysts expect that Fiserv will post 4.42 EPS for the current fiscal year.
In other Fiserv news, CEO Jeffery W. Yabuki sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $101.61, for a total value of $254,025.00. Following the completion of the sale, the chief executive officer now owns 305,537 shares of the company’s stock, valued at $31,045,614.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Omaha Holdings L.P. New sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $98.00, for a total value of $490,000,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,042,500 shares of company stock worth $494,316,125. 1.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional boosted its holdings in Fiserv by 104.8% in the second quarter. CX Institutional now owns 258 shares of the business services provider’s stock worth $25,000 after acquiring an additional 132 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in Fiserv in the second quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new stake in Fiserv in the second quarter worth about $40,000. Financial Management Professionals Inc. boosted its holdings in Fiserv by 47.5% in the second quarter. Financial Management Professionals Inc. now owns 447 shares of the business services provider’s stock worth $44,000 after acquiring an additional 144 shares in the last quarter. Finally, Tarbox Family Office Inc. boosted its holdings in Fiserv by 54.8% in the second quarter. Tarbox Family Office Inc. now owns 545 shares of the business services provider’s stock worth $53,000 after acquiring an additional 193 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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