B. Riley Financial Issues Pessimistic Forecast for Fiserv (NASDAQ:FISV) Stock Price

Key Points

• B. Riley Financial cut its Fiserv price target from $66 to $51 and maintained a “neutral” rating, implying roughly 9.7% upside from the stock’s $46.48 price.
• Analyst sentiment remains cautious: Fiserv has an overall “Hold” consensus, with 25 Hold ratings, six Buys and four Sells; the average target price is $73.70.
• Fiserv recently missed quarterly expectations, reporting $1.84 in EPS versus $1.91 expected and $4.96 billion in revenue versus $5.04 billion forecast, while revenue declined 4.1% year over year.

Fiserv (NASDAQ:FISV - Get Free Report) had its price target decreased by investment analysts at B. Riley Financial from $66.00 to $51.00 in a report released on Monday. The firm presently has a "neutral" rating on the business services provider's stock. B. Riley Financial's target price would suggest a potential upside of 9.72% from the company's current price.

A number of other equities research analysts have also recently commented on the company. Raymond James Financial reissued a "market perform" rating on shares of Fiserv in a research note on Tuesday, July 7th. Barclays set a $52.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a research report on Friday, August 7th. Susquehanna reduced their price objective on shares of Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research note on Friday, August 7th. Morgan Stanley set a $59.00 target price on shares of Fiserv in a report on Friday, August 7th. Finally, Wells Fargo & Company set a $56.00 target price on shares of Fiserv and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $73.70.

Fiserv Price Performance

Shares of FISV opened at $46.48 on Monday. Fiserv has a fifty-two week low of $45.13 and a fifty-two week high of $130.64. The firm's 50-day simple moving average is $51.56 and its two-hundred day simple moving average is $53.90. The stock has a market cap of $24.72 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 4.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04.

Fiserv (NASDAQ:FISV - Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts anticipate that Fiserv will post 7.26 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, Director Lance Fritz purchased 10,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the transaction, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FISV. Legacy Wealth Asset Management LLC increased its stake in shares of Fiserv by 3.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider's stock worth $303,000 after acquiring an additional 195 shares during the last quarter. Sunbelt Securities Inc. boosted its position 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 valued at $128,000 after acquiring an additional 215 shares during the last quarter. Cambient Family Office LLC grew its holdings in shares of Fiserv by 1.7% in the first quarter. Cambient Family Office LLC now owns 17,096 shares of the business services provider's stock valued at $954,000 after purchasing an additional 291 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Fiserv by 5.7% in the second quarter. Wedbush Securities Inc. now owns 5,394 shares of the business services provider's stock valued at $265,000 after purchasing an additional 293 shares during the period. Finally, Whittier Trust Co. increased its position in Fiserv by 10.8% during the first quarter. Whittier Trust Co. now owns 3,757 shares of the business services provider's stock worth $212,000 after purchasing an additional 367 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Company Profile

Fiserv, Inc is a global financial technology company that provides payments and financial services technology to businesses, financial institutions and consumers. Its offerings support electronic payments, merchant acquiring, account processing, digital banking, money movement and other transaction-related activities.

The company's products and platforms include Clover, which provides point-of-sale hardware, software and payment services for small and midsize businesses; Carat, which serves larger merchants; and technology for banks and credit unions, including core processing, online and mobile banking, card services, bill payment and fraud-management solutions.

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