Fiserv (NASDAQ:FISV) Price Target Cut to $49.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered Fiserv’s price target to $49 from $55 while maintaining a “Hold” rating, implying 7.43% upside from the prior close.
• Fiserv shares traded at $45.61, near their 12-month low of $43.87; analysts broadly rate the stock “Hold,” with an average price target of $73.43.
• The company’s latest quarter fell short of expectations, with adjusted EPS of $1.84 versus $1.91 expected and revenue of $4.96 billion, down 4.1% year over year.

Fiserv (NASDAQ:FISV - Get Free Report) had its target price reduced by equities researchers at TD Cowen from $55.00 to $49.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "hold" rating on the business services provider's stock. TD Cowen's target price would suggest a potential upside of 7.43% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Raymond James Financial reiterated a "market perform" rating on shares of Fiserv in a report on Tuesday, July 7th. Stephens reiterated an "equal weight" rating and issued a $57.00 target price on shares of Fiserv in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lowered their target price on Fiserv from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Finally, Truist Financial set a $53.00 price target on shares of Fiserv and gave the company a "hold" rating in a research note on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $73.43.

Fiserv Stock Performance

Fiserv stock traded down $0.33 during mid-day trading on Friday, reaching $45.61. The company's stock had a trading volume of 758,819 shares, compared to its average volume of 7,644,330. Fiserv has a 12-month low of $43.87 and a 12-month high of $128.78. The firm's fifty day moving average price is $50.35 and its two-hundred day moving average price is $53.14. The company has a market capitalization of $24.25 billion, a P/E ratio of 8.75, a PEG ratio of 4.52 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 announced its quarterly 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). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.04 billion. The firm's revenue was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Fiserv will post 7.27 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

In other Fiserv news, Director Lance Fritz purchased 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the acquisition, the director owned 27,207 shares in the company, valued at $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FISV. Keating Financial Advisory Services Inc. acquired a new position in shares of Fiserv during the second quarter valued at about $30,000. Osterweis Capital Management Inc. bought a new position in shares of Fiserv during the second quarter worth approximately $32,000. Reflection Asset Management acquired a new stake in Fiserv in the fourth quarter valued at approximately $36,000. Caitlin John LLC acquired a new position in shares of Fiserv during the 2nd quarter valued at $45,000. Finally, Bank of New Hampshire bought a new position in Fiserv during the 4th quarter valued at $46,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Company Profile

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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