Fiserv Inc. (FISV) Hits New 1-Year High at $109.78
Fiserv Inc. (NASDAQ:FISV) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $109.78 and last traded at $109.11, with a volume of 564,100 shares traded. The stock had previously closed at $109.43.
Several research analysts have commented on FISV shares. Argus raised Fiserv from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Monday, May 9th. Robert W. Baird reaffirmed a “hold” rating on shares of Fiserv in a report on Monday, May 16th. Oppenheimer Holdings Inc. downgraded Fiserv from an “outperform” rating to a “market perform” rating in a report on Monday, March 21st. They noted that the move was a valuation call. Compass Point started coverage on Fiserv in a research note on Friday, April 15th. They issued a “sell” rating and a $85.00 price objective on the stock. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Fiserv in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Fiserv has a consensus rating of “Hold” and an average price target of $100.80.
The company’s 50-day moving average is $105.64 and its 200-day moving average is $98.92. The stock has a market cap of $24.11 billion and a price-to-earnings ratio of 30.84.
Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Fiserv’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Fiserv Inc. will post $4.43 EPS for the current year.
In other news, Director Daniel P. Kearney sold 11,220 shares of Fiserv stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $105.31, for a total transaction of $1,181,578.20. Following the completion of the transaction, the director now directly owns 24,596 shares in the company, valued at $2,590,204.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffery W. Yabuki sold 12,000 shares of Fiserv stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $105.76, for a total transaction of $1,269,120.00. Following the transaction, the chief executive officer now owns 360,994 shares of the company’s stock, valued at $38,178,725.44. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Fiserv by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 789,014 shares of the company’s stock valued at $72,171,000 after buying an additional 17,249 shares during the last quarter. I.G. Investment Management LTD. raised its position in Fiserv by 2.8% in the fourth quarter. I.G. Investment Management LTD. now owns 16,017 shares of the company’s stock valued at $1,465,000 after buying an additional 442 shares during the last quarter. Redwood Investments LLC raised its position in Fiserv by 11.9% in the fourth quarter. Redwood Investments LLC now owns 98,579 shares of the company’s stock valued at $9,016,000 after buying an additional 10,458 shares during the last quarter. Trexquant Investment LP acquired a new position in Fiserv during the fourth quarter valued at about $2,524,000. Finally, Bronfman E.L. Rothschild L.P. acquired a new position in Fiserv during the fourth quarter valued at about $1,680,000.
Fiserv, Inc (Fiserv) is a global provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, and related services, including document and payment card production and distribution, check processing and imaging, source capture systems, and lending and risk management products and services.