Oppenheimer Downgrades Fiserv (NASDAQ:FISV) to Market Perform

Fiserv (NASDAQ:FISV) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, MarketBeat Ratings reports. Oppenheimer also issued estimates for Fiserv’s Q2 2020 earnings at $0.92 EPS, Q3 2020 earnings at $1.12 EPS, Q4 2020 earnings at $1.40 EPS, FY2020 earnings at $4.38 EPS, Q1 2021 earnings at $1.23 EPS, Q2 2021 earnings at $1.35 EPS, Q3 2021 earnings at $1.37 EPS, Q4 2021 earnings at $1.58 EPS and FY2021 earnings at $5.53 EPS.

FISV has been the topic of a number of other reports. Wells Fargo & Co lifted their price target on Fiserv from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised Fiserv from a “neutral” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Friday, March 27th. Keefe, Bruyette & Woods raised their price objective on Fiserv from $108.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. KeyCorp raised their price objective on Fiserv from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Canaccord Genuity lowered their target price on Fiserv from $152.00 to $135.00 and set a “buy” rating for the company in a report on Monday, May 11th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Fiserv has a consensus rating of “Buy” and an average price target of $121.36.

NASDAQ:FISV opened at $97.62 on Monday. The stock’s 50-day simple moving average is $102.82 and its 200 day simple moving average is $107.26. The firm has a market capitalization of $64.95 billion, a PE ratio of 53.64, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.65. Fiserv has a twelve month low of $73.50 and a twelve month high of $125.05.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.87 billion. Fiserv had a return on equity of 9.62% and a net margin of 8.51%. Fiserv’s revenue was up 150.9% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts anticipate that Fiserv will post 4.41 EPS for the current fiscal year.

In other Fiserv news, CAO Kenneth Best sold 11,496 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $108.94, for a total value of $1,252,374.24. Following the transaction, the chief accounting officer now owns 38,133 shares of the company’s stock, valued at $4,154,209.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Guy Chiarello sold 20,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $108.96, for a total value of $2,179,200.00. Following the transaction, the insider now directly owns 302,775 shares in the company, valued at approximately $32,990,364. The disclosure for this sale can be found here. In the last three months, insiders sold 407,996 shares of company stock worth $42,532,359. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FISV. Virtus ETF Advisers LLC purchased a new position in shares of Fiserv during the 4th quarter valued at $32,000. Stephenson National Bank & Trust purchased a new position in shares of Fiserv during the 4th quarter valued at $36,000. Harwood Advisory Group LLC purchased a new position in shares of Fiserv during the 1st quarter valued at $39,000. Westside Investment Management Inc. purchased a new position in shares of Fiserv during the 1st quarter valued at $40,000. Finally, MBE Wealth Management LLC purchased a new position in shares of Fiserv during the 1st quarter valued at $40,000. 93.02% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Company Profile

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; Internet and 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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Analyst Recommendations for Fiserv (NASDAQ:FISV)

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