Fiserv, Inc. (NASDAQ:FISV – Get Free Report) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $48.64 and traded as high as $50.91. Fiserv shares last traded at $50.02, with a volume of 10,919,346 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on FISV shares. JPMorgan Chase & Co. dropped their price target on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Zacks Research cut Fiserv from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Truist Financial set a $51.00 price objective on Fiserv and gave the company a “hold” rating in a research note on Friday, October 23rd. Wells Fargo & Company set a $56.00 target price on Fiserv and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lowered their target price on Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.38.
Get Our Latest Research Report on Fiserv
Fiserv Stock Performance
The firm has a market cap of $26.60 billion, a PE ratio of 9.60, a PEG ratio of 4.85 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $48.64 and a two-hundred day simple moving average of $54.76.
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). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Fiserv, Inc. will post 7.25 earnings per share for the current year.
Insider Transactions at Fiserv
In related news, Director Lance Fritz acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Fiserv in the second quarter valued at approximately $2,079,711,000. JANA Partners Management LP raised its stake in shares of Fiserv by 97.5% in the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock valued at $247,507,000 after buying an additional 2,190,085 shares during the period. Deutsche Bank AG bought a new stake in shares of Fiserv in the second quarter valued at $178,310,000. Legal & General Group Plc purchased a new position in shares of Fiserv during the 2nd quarter valued at $161,557,000. Finally, Turtle Creek Asset Management Inc. lifted its position in shares of Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock valued at $147,517,000 after buying an additional 2,396,167 shares during the last quarter. 90.98% of the stock is owned by institutional investors.
Fiserv Company Profile
Fiserv, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.
The company’s offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.
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