JPMorgan Chase & Co. Cuts Fiserv (NYSE:FI) Price Target to $85.00

Fiserv (NYSE:FI) had its price objective cut by JPMorgan Chase & Co. from $155.00 to $85.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on FI. The Goldman Sachs Group downgraded Fiserv from a “buy” rating to a “neutral” rating and cut their price objective for the company from $149.00 to $79.00 in a research note on Thursday. Susquehanna cut their price objective on Fiserv from $240.00 to $220.00 and set a “positive” rating for the company in a research note on Thursday, July 24th. William Blair downgraded Fiserv from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Jefferies Financial Group cut their price objective on Fiserv from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Finally, Truist Financial downgraded Fiserv from a “buy” rating to a “hold” rating and cut their price objective for the company from $143.00 to $75.00 in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.95.

Fiserv Trading Up 2.1%

Fiserv stock opened at $66.57 on Thursday. The business has a 50-day simple moving average of $126.20 and a two-hundred day simple moving average of $151.35. The company has a market cap of $36.19 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.56 and a beta of 0.95. Fiserv has a 52-week low of $64.52 and a 52-week high of $238.59. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.15.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $4.32 billion during the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%. Analysts predict that Fiserv will post 10.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock worth $11,059,063,000 after purchasing an additional 535,407 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Fiserv by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock worth $1,829,451,000 after acquiring an additional 253,544 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Fiserv during the 1st quarter worth approximately $1,722,584,000. Finally, Norges Bank purchased a new stake in shares of Fiserv during the 2nd quarter worth approximately $1,252,260,000. 90.98% of the stock is currently 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.