Fiserv (NASDAQ:FISV) Stock Gets Price Target Reduction from TD Cowen

Fiserv (NASDAQ:FISV) had its price objective lowered by TD Cowen from $55.00 to $49.00 in a report released on Friday morning,Benzinga reports. TD Cowen currently has a hold rating on the business services provider’s stock.

A number of other analysts also recently commented on FISV. Morgan Stanley set a $59.00 price objective on Fiserv in a research note on Friday, August 7th. UBS Group set a $60.00 target price on Fiserv and gave the company a “neutral” rating in a research note on Friday, August 7th. B. Riley Financial decreased their target price on Fiserv from $66.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $53.00 target price on shares of Fiserv in a report on Monday, August 31st. Finally, Stephens reiterated an “equal weight” rating and issued a $57.00 price target on shares of Fiserv in a research report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Fiserv has an average rating of “Hold” and a consensus price target of $70.21.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $45.63 on Friday. Fiserv has a 12 month low of $43.87 and a 12 month high of $128.78. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 4.55 and a beta of 0.80. The stock’s 50 day moving average price is $50.18 and its 200 day moving average price is $53.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that Fiserv will post 7.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, Director Lance Fritz purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the transaction, the director owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Legacy Wealth Asset Management LLC lifted its stake in Fiserv by 3.3% in the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 195 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Fiserv by 10.4% during the 1st quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock worth $128,000 after purchasing an additional 215 shares during the last quarter. Intelligence Driven Advisers LLC raised its holdings in shares of Fiserv by 4.0% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 6,553 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 250 shares in the last quarter. Plan A Wealth LLC raised its holdings in shares of Fiserv by 4.2% during the 3rd quarter. Plan A Wealth LLC now owns 6,832 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 277 shares in the last quarter. Finally, Gilpin Wealth Management LLC raised its holdings in shares of Fiserv by 22.6% during the 3rd quarter. Gilpin Wealth Management LLC now owns 1,525 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

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.