Fiserv (NASDAQ:FISV) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Fiserv (NASDAQ:FISV) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research analysts also recently issued reports on FISV. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $54.00 price objective on shares of Fiserv in a research note on Friday, August 7th. Citigroup reissued a “neutral” rating and issued a $57.00 price target (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Barclays set a $52.00 target price on shares of Fiserv and gave the company an “equal weight” rating in a research report on Friday, August 7th. B. Riley Financial decreased their price target on Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.20.

Fiserv Trading Down 1.3%

Shares of FISV stock opened at $51.38 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. Fiserv has a fifty-two week low of $47.04 and a fifty-two week high of $140.19. The company has a market cap of $27.32 billion, a PE ratio of 9.86, a P/E/G ratio of 3.91 and a beta of 0.80. The stock’s fifty day moving average price is $51.36 and its two-hundred day moving average price is $55.87.

Fiserv (NASDAQ:FISV) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.Fiserv’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts predict that Fiserv will post 7.27 EPS for the current fiscal year.

Insider Activity

In related news, CFO Paul M. Todd acquired 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were bought at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the transaction, the chief financial officer owned 184,107 shares in the company, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the transaction, the director owned 27,207 shares of the company’s stock, valued at $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fiserv

A number of institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. bought a new position in Fiserv in the fourth quarter valued at $25,000. Private Wealth Asset Management LLC bought a new stake in Fiserv during the fourth quarter worth about $25,000. Kimelman & Baird LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $27,000. Goodman Advisory Group LLC bought a new position in shares of Fiserv during the 4th quarter valued at about $27,000. Finally, Tripletail Wealth Management LLC bought a new position in shares of Fiserv during the 4th quarter valued at about $27,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.