Zacks Investment Research upgraded shares of Fiserv (NASDAQ:FISV) from a hold rating to a buy rating in a research report released on Tuesday, February 13th. The firm currently has $154.00 price target on the business services provider’s stock.
According to Zacks, “Fiserv reported strong fourth-quarter 2017 results. Both earnings and revenues grew on a year-over-year basis. The company is benefiting from an expanding customer base, robust product portfolio and higher recurring revenues. While product-oriented acquisitions are leading to a steady flow of customers, investment in digital-oriented technologies is improving competitiveness. Fiserv is witnessing an increase in the adoption of DNA as well as other digital banking solutions due to its improved architecture, flexible user interface and other digital capacities. However, the company’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. In the past one-year, shares have underperformed the industry it belongs to.”
A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued a hold rating and issued a $126.00 price objective on shares of Fiserv in a research note on Wednesday, November 1st. Barclays reaffirmed a hold rating and set a $141.00 price target on shares of Fiserv in a research note on Friday, January 5th. Credit Suisse Group lifted their price objective on shares of Fiserv from $126.00 to $140.00 and gave the company a neutral rating in a report on Wednesday, January 17th. SunTrust Banks reiterated a hold rating and set a $130.00 price objective on shares of Fiserv in a report on Wednesday, November 1st. Finally, Argus set a $148.00 price target on shares of Fiserv and gave the company a buy rating in a report on Friday, January 12th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $140.73.
Fiserv (FISV) traded up $2.32 on Tuesday, reaching $142.11. 904,600 shares of the company’s stock traded hands, compared to its average volume of 1,230,550. The company has a market capitalization of $29,132.15, a P/E ratio of 25.16, a PEG ratio of 1.95 and a beta of 0.87. Fiserv has a fifty-two week low of $113.29 and a fifty-two week high of $145.95. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.79.
Fiserv (NASDAQ:FISV) last posted its earnings results on Wednesday, February 7th. The business services provider reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.03. Fiserv had a net margin of 21.88% and a return on equity of 44.58%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company posted $1.16 earnings per share. Fiserv’s quarterly revenue was up 5.9% on a year-over-year basis. research analysts expect that Fiserv will post 6.22 earnings per share for the current year.
In related news, Director Denis Oleary sold 12,160 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $142.64, for a total value of $1,734,502.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Byron C. Vielehr sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $131.03, for a total transaction of $1,310,300.00. Following the completion of the sale, the insider now directly owns 19,719 shares in the company, valued at approximately $2,583,780.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,599 shares of company stock valued at $8,083,155. 1.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Fiserv by 1.1% during the fourth quarter. BlackRock Inc. now owns 15,046,546 shares of the business services provider’s stock worth $1,973,053,000 after purchasing an additional 166,837 shares in the last quarter. Longview Partners Guernsey LTD grew its position in shares of Fiserv by 1.1% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,448,669 shares of the business services provider’s stock worth $714,484,000 after acquiring an additional 57,150 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Fiserv by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,586,516 shares of the business services provider’s stock worth $338,560,000 after acquiring an additional 65,324 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Fiserv by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 2,057,992 shares of the business services provider’s stock worth $265,398,000 after acquiring an additional 27,105 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Fiserv by 2.2% during the third quarter. Janus Henderson Group PLC now owns 1,909,424 shares of the business services provider’s stock worth $246,234,000 after acquiring an additional 41,256 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.
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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