Zacks Investment Research downgraded shares of Fiserv (NASDAQ:FISV) from a buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Fiserv’s dominant position in the financial and payments solutions business is expected to drive long-term growth. Moreover, Fiserv’s diversified product portfolio continues to attract a steady flow of customers. Accretive acquisitions have been a key growth factor for Fiserv over the years. While product-oriented acquisitions are expected to boost its clientele in the United States and abroad, investment in digital-oriented technologies is improving competitiveness. The company’s focus on returning value to shareholders through buybacks is also appreciable. The stock has outperformed the industry’s growth in the past six months. However, the company’s highly leveraged balance sheet continues to weigh on its profitability. Further, increased competition and consolidation within the banking and financial services industry and integration risk associated with buyouts are other headwinds.”
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Fiserv from a buy rating to a hold rating in a report on Friday, April 6th. Stephens reiterated a hold rating and issued a $73.00 price objective on shares of Fiserv in a report on Thursday, April 5th. Credit Suisse Group decreased their price objective on shares of Fiserv from $70.00 to $68.00 and set a neutral rating for the company in a report on Thursday, February 8th. SunTrust Banks upgraded shares of Fiserv from a hold rating to a buy rating in a report on Friday, February 9th. Finally, Cowen reiterated a hold rating and issued a $67.50 price objective on shares of Fiserv in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Fiserv currently has a consensus rating of Hold and a consensus target price of $70.83.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Wednesday, February 7th. The business services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Fiserv had a net margin of 21.88% and a return on equity of 44.58%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company posted $0.58 EPS. Fiserv’s revenue was up 5.9% on a year-over-year basis. equities analysts expect that Fiserv will post 3.11 earnings per share for the current fiscal year.
In other Fiserv news, Director Denis Oleary sold 12,160 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $142.64, for a total transaction of $1,734,502.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $138.59, for a total transaction of $2,356,030.00. Following the transaction, the insider now directly owns 203,051 shares of the company’s stock, valued at approximately $28,140,838.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,160 shares of company stock valued at $8,993,842. Company insiders own 1.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC lifted its position in Fiserv by 32.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 3,305 shares of the business services provider’s stock worth $433,000 after acquiring an additional 814 shares during the last quarter. Huntington National Bank raised its position in shares of Fiserv by 3.2% during the fourth quarter. Huntington National Bank now owns 226,079 shares of the business services provider’s stock valued at $29,646,000 after buying an additional 6,947 shares during the last quarter. New Mexico Educational Retirement Board raised its position in shares of Fiserv by 2.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 20,258 shares of the business services provider’s stock valued at $2,656,000 after buying an additional 500 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Fiserv by 5.4% during the fourth quarter. Eqis Capital Management Inc. now owns 16,509 shares of the business services provider’s stock valued at $2,165,000 after buying an additional 843 shares during the last quarter. Finally, American National Bank raised its position in shares of Fiserv by 2.8% during the fourth quarter. American National Bank now owns 40,843 shares of the business services provider’s stock valued at $5,356,000 after buying an additional 1,115 shares during the last quarter. 44.88% of the stock is owned by hedge funds and other institutional investors.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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