Fiserv (NASDAQ:FISV – Free Report) had its price objective trimmed by B. Riley Financial from $66.00 to $51.00 in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a neutral rating on the business services provider’s stock.
A number of other brokerages also recently weighed in on FISV. Zacks Research downgraded Fiserv from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. TD Cowen reissued a “hold” rating and issued a $55.00 price objective on shares of Fiserv in a research note on Thursday, September 3rd. Keefe, Bruyette & Woods decreased their price objective on Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Truist Financial set a $53.00 target price on Fiserv and gave the company a “hold” rating in a research note on Thursday, August 20th. Finally, Susquehanna dropped their target price on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv presently has an average rating of “Hold” and a consensus target price of $73.70.
Check Out Our Latest Report on FISV
Fiserv Trading Down 1.0%
Fiserv (NASDAQ:FISV – Get Free Report) last announced its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Fiserv will post 7.26 EPS for the current year.
Insider Activity
In other news, Director Lance Fritz acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the acquisition, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Legacy Wealth Asset Management LLC lifted its stake in shares of Fiserv by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 195 shares during the period. Sunbelt Securities Inc. boosted its holdings in Fiserv by 10.4% in the first quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 215 shares during the last quarter. Cambient Family Office LLC increased its position in Fiserv by 1.7% in the first quarter. Cambient Family Office LLC now owns 17,096 shares of the business services provider’s stock worth $954,000 after purchasing an additional 291 shares during the period. Wedbush Securities Inc. increased its position in Fiserv by 5.7% in the second quarter. Wedbush Securities Inc. now owns 5,394 shares of the business services provider’s stock worth $265,000 after purchasing an additional 293 shares during the period. Finally, Whittier Trust Co. raised its holdings in Fiserv by 10.8% during the 1st quarter. Whittier Trust Co. now owns 3,757 shares of the business services provider’s stock worth $212,000 after purchasing an additional 367 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.
Fiserv News Summary
Here are the key news stories impacting Fiserv this week:
- Positive Sentiment: Jana’s proposals could improve profitability and cash flow if deeper cost cuts are successfully implemented. Using Palantir’s technology may also help Fiserv automate operations and improve efficiency. Activist Jana pushes Fiserv to accelerate cost cuts and tap Palantir
- Neutral Sentiment: B. Riley lowered its price target for Fiserv from $66 to $51 and maintained a “neutral” rating. The revised target still implies potential upside from the stock’s recent level, but the sharp reduction signals reduced confidence in the company’s near-term outlook. Fiserv Stock Price Target Lowered at B. Riley Financial
- Negative Sentiment: The activist campaign highlights concerns over Fiserv’s muted growth and operating performance. Recent quarterly results also showed earnings and revenue below consensus estimates, with revenue declining year over year, reinforcing worries about a compressed long-term valuation.
- Negative Sentiment: Analysts and market commentary indicate that Fiserv is heading toward its weakest month in nearly a year. While some investors argue the selloff overstates a one-time decline, the stock remains close to its 12-month low and below its 50-day and 200-day moving averages, reflecting sustained bearish sentiment. Fiserv: The Market Is Overreacting To A One-Off Decline
Fiserv Company Profile
Fiserv, Inc is a global financial technology company that provides payments and financial services technology to businesses, financial institutions and consumers. Its offerings support electronic payments, merchant acquiring, account processing, digital banking, money movement and other transaction-related activities.
The company’s products and platforms include Clover, which provides point-of-sale hardware, software and payment services for small and midsize businesses; Carat, which serves larger merchants; and technology for banks and credit unions, including core processing, online and mobile banking, card services, bill payment and fraud-management solutions.
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