Citigroup Has Lowered Expectations for Fiserv (NASDAQ:FISV) Stock Price

Fiserv (NASDAQ:FISV) had its price objective reduced by equities researchers at Citigroup from $57.00 to $53.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price indicates a potential upside of 11.46% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group set a $60.00 price objective on shares of Fiserv and gave the stock a “neutral” rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Barclays set a $50.00 price objective on shares of Fiserv and gave the company an “equal weight” rating in a research report on Friday, October 9th. Susquehanna cut their price objective on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a report on Friday, August 7th. Finally, Morgan Stanley set a $59.00 target price on shares of Fiserv in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fiserv has an average rating of “Hold” and an average target price of $69.17.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.34 during mid-day trading on Friday, reaching $47.55. 4,932,184 shares of the stock were exchanged, compared to its average volume of 7,588,729. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 4.60 and a beta of 0.80. Fiserv has a fifty-two week low of $43.87 and a fifty-two week 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 firm has a 50-day simple moving average of $49.54 and a 200 day simple moving average of $52.79.

Fiserv (NASDAQ:FISV) last announced 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). Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. The firm’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Fiserv will post 7.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Lance Fritz purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, the director owned 27,207 shares of the company’s stock, valued at $1,413,403.65. The trade was a 58.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Fiserv

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Fiserv in the 2nd quarter worth about $2,079,711,000. JANA Partners Management LP boosted its holdings in Fiserv by 97.5% in the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock valued at $247,507,000 after purchasing an additional 2,190,085 shares in the last quarter. Deutsche Bank AG acquired a new stake in Fiserv during the 2nd quarter worth $178,310,000. Legal & General Group Plc acquired a new position in Fiserv during the 2nd quarter worth approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. increased its holdings in Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock valued at $147,517,000 after acquiring an additional 2,396,167 shares in the last quarter. Hedge funds and other 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.