B. Riley Financial Cuts Fiserv (NASDAQ:FISV) Price Target to $51.00

Fiserv (NASDAQ:FISV) had its price objective decreased by B. Riley Financial from $66.00 to $51.00 in a research report report published on Monday, MarketBeat.com reports. B. Riley Financial currently has a neutral rating on the business services provider’s stock.

A number of other brokerages also recently commented on FISV. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price objective (down from $75.00) on shares of Fiserv in a research report on Friday, August 7th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price (down from $60.00) on shares of Fiserv in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Barclays set a $52.00 price target on shares of Fiserv and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Citigroup reiterated a “neutral” rating and set a $57.00 price objective (down from $60.00) on shares of Fiserv in a report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.70.

Fiserv Stock Down 0.3%

NASDAQ:FISV opened at $45.24 on Monday. The business’s fifty day moving average price is $51.24 and its 200 day moving average price is $53.64. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 4.52 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 has a 1-year low of $44.82 and a 1-year high of $129.85.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS 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 business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The business’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Fiserv will post 7.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fiserv news, Director Lance Fritz bought 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $51.95 per share, with a total value of $519,500.00. Following the completion of the transaction, the director directly owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

Several institutional investors and hedge funds have recently modified their holdings of FISV. BlackRock Inc. acquired a new position in Fiserv during the second quarter worth $2,079,711,000. Norges Bank acquired a new stake in shares of Fiserv in the fourth quarter worth about $555,964,000. Capital World Investors bought a new stake in shares of Fiserv during the 4th quarter worth about $325,470,000. JANA Partners Management LP boosted its stake in shares of Fiserv by 97.5% during the 1st quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock worth $247,507,000 after acquiring an additional 2,190,085 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of Fiserv during the 4th quarter valued at about $276,237,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Company Profile

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.