Fiserv (NASDAQ:FISV) Stock Price Down 2.3% – Here’s Why

Fiserv, Inc. (NASDAQ:FISV)’s share price fell 2.3% during trading on Thursday . The company traded as low as $59.72 and last traded at $59.77. 7,098,993 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 5,644,662 shares. The stock had previously closed at $61.17.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FISV. Truist Financial cut Fiserv from a “buy” rating to a “hold” rating and cut their price objective for the stock from $143.00 to $75.00 in a research report on Thursday, October 30th. Wells Fargo & Company upgraded Fiserv to a “hold” rating in a report on Wednesday, October 22nd. Zacks Research downgraded shares of Fiserv from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and set a $91.00 target price on shares of Fiserv in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $205.00 to $80.00 in a report on Thursday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Fiserv has a consensus rating of “Hold” and a consensus target price of $123.25.

Fiserv Trading Down 2.3%

The business’s 50 day moving average price is $107.15 and its 200-day moving average price is $139.36. The company has a market cap of $32.49 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.56 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.08.

Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The business had revenue of $4.32 billion for the quarter. On average, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Activity at Fiserv

In related news, Director Lance M. Fritz bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the transaction, the director directly owned 13,086 shares of the company’s stock, valued at $852,945.48. This represents a 324.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. E Fund Management Co. Ltd. lifted its holdings in Fiserv by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 55 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Fiserv by 0.3% during the first quarter. Pinnacle Associates Ltd. now owns 16,794 shares of the business services provider’s stock worth $3,709,000 after buying an additional 57 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its stake in shares of Fiserv by 5.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 1,273 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 62 shares during the last quarter. SageView Advisory Group LLC boosted its holdings in shares of Fiserv by 4.0% in the 1st quarter. SageView Advisory Group LLC now owns 1,598 shares of the business services provider’s stock worth $353,000 after acquiring an additional 62 shares in the last quarter. Finally, Howland Capital Management LLC grew its position in Fiserv by 0.5% during the 1st quarter. Howland Capital Management LLC now owns 13,874 shares of the business services provider’s stock worth $3,064,000 after acquiring an additional 64 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.