Fiserv, Inc. (NASDAQ:FISV) – Stock analysts at Jefferies Financial Group cut their Q1 2021 earnings per share estimates for Fiserv in a research report issued to clients and investors on Wednesday, January 13th. Jefferies Financial Group analyst T. Williams now anticipates that the business services provider will earn $1.17 per share for the quarter, down from their previous estimate of $1.18. Jefferies Financial Group has a “Buy” rating and a $135.00 price target on the stock. Jefferies Financial Group also issued estimates for Fiserv’s FY2021 earnings at $5.38 EPS, Q1 2022 earnings at $1.41 EPS, Q2 2022 earnings at $1.50 EPS, Q3 2022 earnings at $1.68 EPS and Q4 2022 earnings at $1.75 EPS.
A number of other research firms have also recently commented on FISV. Raymond James lifted their target price on Fiserv from $120.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 9th. ValuEngine upgraded Fiserv from a “sell” rating to a “hold” rating in a research note on Tuesday, November 10th. Bank of America reiterated a “buy” rating and set a $136.00 target price on shares of Fiserv in a research note on Tuesday, December 1st. Rosenblatt Securities upgraded Fiserv from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $111.00 to $128.00 in a research note on Thursday, December 10th. Finally, Truist boosted their price objective on Fiserv from $125.00 to $145.00 in a research note on Wednesday, December 9th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Fiserv presently has an average rating of “Buy” and a consensus price target of $128.13.
Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, October 27th. The business services provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.05. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Fiserv had a return on equity of 8.75% and a net margin of 6.01%.
Fiserv declared that its board has authorized a stock buyback program on Thursday, November 19th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Fiserv news, Chairman Jeffery W. Yabuki sold 22,100 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $99.69, for a total transaction of $2,203,149.00. Following the completion of the transaction, the chairman now owns 205,537 shares of the company’s stock, valued at $20,489,983.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Guy Chiarello sold 20,000 shares of the stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $115.18, for a total value of $2,303,600.00. Following the transaction, the insider now directly owns 270,360 shares of the company’s stock, valued at approximately $31,140,064.80. The disclosure for this sale can be found here. Insiders have sold 20,221,373 shares of company stock worth $2,225,116,182 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the business. CX Institutional grew its position in Fiserv by 46.1% in the third quarter. CX Institutional now owns 377 shares of the business services provider’s stock worth $39,000 after buying an additional 119 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Fiserv in the third quarter valued at approximately $47,000. Clear Harbor Asset Management LLC acquired a new stake in Fiserv during the 3rd quarter worth $56,000. Mirova raised its position in shares of Fiserv by 344.0% during the 3rd quarter. Mirova now owns 626 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 485 shares during the last quarter. Finally, Norway Savings Bank raised its position in shares of Fiserv by 40.0% during the 3rd quarter. Norway Savings Bank now owns 700 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 200 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. Its First Data segment provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; credit card and loan account processing, commercial payments, customer communications, plastics solutions, customer service, and other products; and various network solutions and security, and risk and fraud management solutions.
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