Investors Buy Fiserv Inc. (FISV) on Weakness
Traders bought shares of Fiserv Inc. (NASDAQ:FISV) on weakness during trading hours on Friday. $34.21 million flowed into the stock on the tick-up and $19.13 million flowed out of the stock on the tick-down, for a money net flow of $15.08 million into the stock. Of all companies tracked, Fiserv had the 20th highest net in-flow for the day. Fiserv traded down ($0.39) for the day and closed at $105.19
Several research firms have commented on FISV. Robert W. Baird reaffirmed a “hold” rating on shares of Fiserv in a research report on Monday, May 16th. Barclays PLC lifted their price target on Fiserv from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Argus raised Fiserv from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Monday, May 9th. Jefferies Group lifted their price target on Fiserv from $119.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Compass Point began coverage on Fiserv in a research report on Friday, April 15th. They set a “sell” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.27.
The firm’s 50-day moving average is $108.21 and its 200 day moving average is $101.61. The company has a market cap of $23.73 billion and a P/E ratio of 26.70.
Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. During the same period in the previous year, the company earned $0.95 EPS. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Fiserv’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Fiserv Inc. will post $4.43 earnings per share for the current fiscal year.
In other news, Director Daniel P. Kearney sold 11,220 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $105.31, for a total value of $1,181,578.20. Following the completion of the sale, the director now owns 24,596 shares of the company’s stock, valued at $2,590,204.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J Donald Sherman bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was bought at an average cost of $102.88 per share, with a total value of $205,760.00. Following the transaction, the director now directly owns 1,288 shares of the company’s stock, valued at $132,509.44. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have modified their holdings of FISV. GSA Capital Partners LLP acquired a new position in shares of Fiserv during the fourth quarter worth approximately $1,144,000. Morgan Stanley increased its position in shares of Fiserv by 78.7% in the fourth quarter. Morgan Stanley now owns 743,104 shares of the company’s stock worth $67,964,000 after buying an additional 327,289 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Fiserv by 13.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 56,923 shares of the company’s stock worth $5,380,000 after buying an additional 6,644 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Fiserv by 4.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 31,124 shares of the company’s stock worth $2,847,000 after buying an additional 1,403 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Fiserv by 33.3% in the fourth quarter. Victory Capital Management Inc. now owns 13,290 shares of the company’s stock worth $1,216,000 after buying an additional 3,317 shares in the last quarter.
Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.