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

Key Points

• Cantor Fitzgerald lowered Fiserv’s price target to $48 from $53 while maintaining a “neutral” rating, implying only 1.67% upside from the prior close. Analysts overall have a “Hold” consensus, with an average target of $69.30.
• Fiserv’s latest quarterly results fell short of expectations, reporting EPS of $1.84 versus $1.91 expected and revenue of $4.96 billion versus $5.04 billion expected; revenue declined 4.1% year over year.
• Director Lance Fritz purchased 10,000 Fiserv shares for approximately $519,500, increasing his position by 58.12%. Institutional investors and hedge funds own 90.98% of the company.

Fiserv (NASDAQ:FISV - Get Free Report) had its price target cut by investment analysts at Cantor Fitzgerald from $53.00 to $48.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. Cantor Fitzgerald's price objective suggests a potential upside of 1.67% from the stock's previous close.

Several other brokerages have also recently commented on FISV. Wells Fargo & Company set a $56.00 price target on shares of Fiserv and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. UBS Group set a $60.00 price objective on Fiserv and gave the company a "neutral" rating in a research note on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating and set a $54.00 price objective on shares of Fiserv in a research note on Friday, August 7th. Bank of America started coverage on shares of Fiserv in a report on Thursday. They issued an "underperform" rating and a $48.00 target price on the stock. Finally, Morgan Stanley set a $59.00 target price on Fiserv in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Fiserv has an average rating of "Hold" and an average target price of $69.30.

Fiserv Trading Up 2.5%

FISV opened at $47.21 on Friday. The firm's 50 day moving average is $49.54 and its 200-day moving average is $52.79. Fiserv has a 52-week low of $43.87 and a 52-week high of $128.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $25.10 billion, a P/E ratio of 6.01, a P/E/G ratio of 4.60 and a beta of 0.80.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) 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 business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. The firm's revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Fiserv will post 7.26 EPS for the current fiscal year.

Insider Transactions at Fiserv

In related news, Director Lance Fritz bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director directly owned 27,207 shares of the company's stock, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

A number of institutional investors have recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC raised its holdings in Fiserv by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider's stock worth $303,000 after purchasing an additional 195 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in 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 purchasing an additional 215 shares in the last quarter. Intelligence Driven Advisers LLC boosted its stake in 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 increased its position 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 during the period. Finally, Gilpin Wealth Management LLC increased its position 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 during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

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.

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