Fiserv’s (FISV) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Fiserv (NASDAQ:FISV) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $53.00 target price on the business services provider’s stock.

Several other brokerages also recently weighed in on FISV. Raymond James Financial restated a “market perform” rating on shares of Fiserv in a report on Tuesday, July 7th. Wells Fargo & Company set a $56.00 price objective on Fiserv and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Loop Capital cut their target price on shares of Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Hold” and an average price target of $74.20.

Fiserv Price Performance

Fiserv stock opened at $51.98 on Monday. 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 $47.04 and a 52-week high of $138.62. The firm has a market cap of $27.64 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 3.89 and a beta of 0.80. The company’s 50 day moving average is $52.05 and its two-hundred day moving average is $55.38.

Fiserv (NASDAQ:FISV) last posted its quarterly 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). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts expect that Fiserv will post 7.26 EPS for the current fiscal year.

Insider Activity

In other Fiserv news, Director Lance M. Fritz bought 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul M. Todd bought 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, with a total value of $499,982.00. Following the purchase, the chief financial officer owned 184,107 shares of the company’s stock, valued at $9,150,117.90. The trade was a 5.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Fiserv

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FISV. Dodge & Cox purchased a new position in shares of Fiserv in the 4th quarter valued at $3,323,210,000. BlackRock Inc. purchased a new stake in Fiserv in the second quarter valued at $2,079,711,000. California State Teachers Retirement System lifted its position in Fiserv by 4,348.7% in the second quarter. California State Teachers Retirement System now owns 41,376,667 shares of the business services provider’s stock valued at $2,029,526,000 after acquiring an additional 40,446,580 shares during the last quarter. State Street Corp acquired a new position in Fiserv in the fourth quarter valued at $1,588,663,000. Finally, Geode Capital Management LLC acquired a new position in Fiserv in the fourth quarter valued at $854,215,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

About Fiserv

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.