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

Fiserv (NASDAQ:FISV) had its target price lowered by Cantor Fitzgerald from $53.00 to $48.00 in a research note released on Friday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 target price (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Zacks Research cut shares of Fiserv from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Bank of America initiated coverage on shares of Fiserv in a report on Thursday. They issued an “underperform” rating and a $48.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $54.00 price objective on shares of Fiserv in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fiserv currently has an average rating of “Hold” and a consensus price target of $69.17.

Fiserv Price Performance

Fiserv stock opened at $47.55 on Friday. The company has a market capitalization of $25.29 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 4.75 and a beta of 0.80. The company has a current ratio of 1.04, a quick 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. The stock’s 50 day moving average is $49.44 and its 200-day moving average is $52.75.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). The firm 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 quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Fiserv will post 7.25 EPS for the current year.

Insiders Place Their Bets

In other Fiserv news, Director Lance Fritz bought 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Fiserv in the 2nd quarter worth $2,079,711,000. Deutsche Bank AG purchased a new position in shares of Fiserv in the second quarter valued at about $178,310,000. Legal & General Group Plc bought a new position in shares of Fiserv during the second quarter valued at about $161,557,000. Bank of New York Mellon Corp bought a new position in shares of Fiserv during the second quarter valued at about $123,177,000. Finally, Turtle Creek Asset Management Inc. boosted its holdings in shares of 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 worth $147,517,000 after purchasing an additional 2,396,167 shares during the period. Institutional investors own 90.98% of the company’s stock.

Fiserv Company Profile

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.