Fiserv (NASDAQ:FISV) Stock Gets Price Target Cut from Citigroup

Fiserv (NASDAQ:FISV) had its price objective trimmed by Citigroup from $57.00 to $53.00 in a report issued on Friday,Benzinga 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. B. Riley Financial decreased their price target on shares of Fiserv from $66.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Oppenheimer downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Weiss Ratings upgraded shares of Fiserv from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Finally, Susquehanna cut their target price on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.17.

Fiserv Stock Performance

Shares of Fiserv stock opened at $47.55 on Friday. The stock has a market cap of $25.29 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 4.75 and a beta of 0.80. The business has a fifty day simple moving average of $49.44 and a 200-day simple moving average of $52.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv has a 12 month low of $43.87 and a 12 month high of $128.78.

Fiserv (NASDAQ:FISV) last issued 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). The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Fiserv will post 7.25 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

In other news, Director Lance Fritz purchased 10,000 shares of Fiserv stock in a transaction dated 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 acquisition, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Fiserv in the 2nd quarter valued at $2,079,711,000. JANA Partners Management LP increased its position in Fiserv by 97.5% during the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock worth $247,507,000 after buying an additional 2,190,085 shares during the last quarter. Deutsche Bank AG acquired a new position in Fiserv during the second quarter worth $178,310,000. Legal & General Group Plc bought a new position in Fiserv during the second quarter valued at about $161,557,000. Finally, Turtle Creek Asset Management Inc. raised its holdings in Fiserv by 968.1% during the first 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 in the last quarter. Institutional investors own 90.98% of the company’s stock.

About Fiserv

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.