Investors Buy Fiserv Inc. (FISV) on Weakness
Investors purchased 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 stocks 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
FISV has been the subject of several analyst reports. Argus raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday, May 9th. Zacks Investment Research raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, July 5th. Robert W. Baird reissued a “hold” rating on shares of Fiserv in a report on Monday, May 16th. Barclays PLC boosted their price target on shares of Fiserv from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, July 7th. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Fiserv in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $103.27.
The company has a market cap of $23.12 billion and a PE ratio of 26.70. The stock has a 50 day moving average of $108.21 and a 200-day moving average of $101.61.
Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Analysts expect that Fiserv Inc. will post $4.43 earnings per share for the current year.
In other news, insider Rahul Gupta sold 28,603 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $105.01, for a total value of $3,003,601.03. Following the completion of the sale, the insider now directly owns 95,798 shares in the company, valued at $10,059,747.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel P. Kearney sold 11,220 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were 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 disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in the stock. Advantus Capital Management Inc raised its stake in shares of Fiserv by 0.8% in the fourth quarter. Advantus Capital Management Inc now owns 22,205 shares of the company’s stock worth $2,031,000 after buying an additional 169 shares during the period. Redwood Investments LLC raised its stake in shares of Fiserv by 11.9% in the fourth quarter. Redwood Investments LLC now owns 98,579 shares of the company’s stock worth $9,016,000 after buying an additional 10,458 shares during the period. Morgan Stanley raised its stake 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 during the period. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of Fiserv during the fourth quarter worth $1,680,000. Finally, Argent Trust Co raised its stake in shares of Fiserv by 17.6% in the third quarter. Argent Trust Co now owns 12,114 shares of the company’s stock worth $1,049,000 after buying an additional 1,816 shares during the period.
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.
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