Fiserv (NASDAQ:FISV) Given New $48.00 Price Target at Cantor Fitzgerald

Fiserv (NASDAQ:FISV) had its price objective decreased by Cantor Fitzgerald from $53.00 to $48.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 1.67% from the company’s previous close.

Several other research firms have also commented on FISV. Keefe, Bruyette & Woods cut their target price on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. UBS Group set a $60.00 price target on shares of Fiserv and gave the stock a “neutral” rating in a research report on Friday, August 7th. B. Riley Financial decreased their price target on shares of Fiserv from $66.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Zacks Research cut Fiserv from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Finally, TD Cowen cut their price objective on Fiserv from $55.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.30.

Fiserv Price Performance

Shares of NASDAQ FISV opened at $47.21 on Friday. Fiserv has a twelve month low of $43.87 and a twelve month high of $128.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 4.60 and a beta of 0.80. The firm has a 50-day moving average of $49.54 and a two-hundred day moving average of $52.79.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings data 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 business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts expect that Fiserv will post 7.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lance Fritz purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $51.95 per share, with a total value of $519,500.00. Following the purchase, the director owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Fiserv

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Fiserv in the second quarter worth about $2,079,711,000. JANA Partners Management LP lifted its position in shares of 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 acquiring an additional 2,190,085 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Fiserv in the 2nd quarter valued at approximately $178,310,000. Legal & General Group Plc purchased a new stake in shares of Fiserv in the 2nd quarter valued at approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. boosted its stake in Fiserv by 968.1% in the 1st 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. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.