Bank of America initiated coverage on shares of Fiserv (NASDAQ:FISV – Free Report) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued an underperform rating and a $48.00 price objective on the business services provider’s stock.
Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $54.00 price target on shares of Fiserv in a research note on Friday, August 7th. Wells Fargo & Company set a $56.00 price objective on Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Morgan Stanley set a $59.00 price target on shares of Fiserv in a research report on Friday, August 7th. Truist Financial set a $53.00 price objective on shares of Fiserv and gave the company a “hold” rating in a research report on Thursday, August 20th. Finally, UBS Group set a $60.00 target price on Fiserv and gave the stock a “neutral” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Hold” and a consensus target price of $69.17.
Check Out Our Latest Research Report on FISV
Fiserv Price Performance
Shares of FISV opened at $47.55 on Thursday. Fiserv has a twelve month low of $43.87 and a twelve month high of $128.78. The stock’s 50 day moving average is $49.44 and its two-hundred day moving average is $52.76. The firm has a market capitalization of $25.29 billion, a PE ratio of 9.13, a P/E/G ratio of 4.74 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99.
Fiserv (NASDAQ:FISV – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The firm’s revenue was down 4.1% on a year-over-year basis. Research analysts anticipate that Fiserv will post 7.25 earnings per share for the current year.
Insider Activity
In other news, Director Lance Fritz bought 10,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, with a total value of $519,500.00. Following the completion of the acquisition, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.
Institutional Investors Weigh In On Fiserv
Hedge funds have recently made changes to their positions in the company. SteelPeak Wealth LLC boosted its stake in Fiserv by 9.0% during the third quarter. SteelPeak Wealth LLC now owns 11,832 shares of the business services provider’s stock valued at $535,000 after buying an additional 972 shares during the period. IFP Advisors Inc grew its holdings in shares of Fiserv by 92.1% during the 3rd quarter. IFP Advisors Inc now owns 333,245 shares of the business services provider’s stock valued at $15,056,000 after purchasing an additional 159,785 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of Fiserv in the 3rd quarter valued at about $558,000. TD Waterhouse Canada Inc. lifted its position in Fiserv by 28.2% in the third quarter. TD Waterhouse Canada Inc. now owns 96,523 shares of the business services provider’s stock valued at $4,385,000 after purchasing an additional 21,227 shares during the last quarter. Finally, Chemistry Wealth Management LLC raised its holdings in Fiserv by 69.1% during the 3rd quarter. Chemistry Wealth Management LLC now owns 14,023 shares of the business services provider’s stock valued at $634,000 after buying an additional 5,729 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.
About Fiserv
Fiserv, Inc is a global financial technology company that provides payments and financial services technology to banks, credit unions, merchants and other businesses. Its offerings support electronic payments, account processing, digital banking, merchant acquiring, fraud prevention and related financial services operations.
The company’s products and platforms include Clover, a point-of-sale and business management system for small and midsize businesses; Carat, which provides enterprise commerce and payment solutions; and services that help financial institutions manage accounts, digital channels, card programs, payments and data.
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