Fiserv (NASDAQ:FISV) Stock Price Target Cut by TD Cowen

Fiserv (NASDAQ:FISV) had its price objective decreased by equities researchers at TD Cowen from $55.00 to $49.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. TD Cowen’s target price would suggest a potential upside of 7.43% from the stock’s current price.

A number of other brokerages have also weighed in on FISV. Barclays set a $50.00 target price on shares of Fiserv and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company set a $56.00 price target on Fiserv and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their target price on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Oppenheimer downgraded Fiserv from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Truist Financial set a $53.00 price target on Fiserv and gave the company a “hold” rating in a report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.43.

Fiserv Trading Down 0.7%

FISV stock traded down $0.33 during midday trading on Friday, reaching $45.61. The company’s stock had a trading volume of 758,819 shares, compared to its average volume of 7,644,330. The stock has a market cap of $24.25 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80. 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 52 week low of $43.87 and a 52 week high of $128.78. The business’s 50-day simple moving average is $50.35 and its 200-day simple moving average is $53.14.

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

Insiders Place Their Bets

In other Fiserv news, Director Lance Fritz purchased 10,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the purchase, the director directly owned 27,207 shares in the company, 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 hyperlink. 0.06% of the stock is owned by insiders.

Institutional Trading of Fiserv

Several institutional investors have recently added to or reduced their stakes in FISV. BlackRock Inc. bought a new position in shares of Fiserv in the second quarter valued at $2,079,711,000. Barclays PLC acquired a new position in Fiserv in the 4th quarter worth $276,237,000. JANA Partners Management LP lifted its stake in Fiserv by 97.5% in the 1st quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock valued at $247,507,000 after purchasing an additional 2,190,085 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Fiserv during the second quarter worth approximately $178,310,000. Finally, Legal & General Group Plc acquired a new stake in Fiserv in the second quarter valued at about $161,557,000. 90.98% of the stock is owned by institutional investors and hedge funds.

About Fiserv

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.