Fiserv (NASDAQ:FISV) Price Target Cut to $53.00 by Analysts at Citigroup

Key Points

• Citigroup cut its Fiserv price target from $57 to $53 while maintaining a “neutral” rating, implying roughly 11.46% upside from the stock’s $47.55 price.
• Analyst sentiment remains cautious: Fiserv has a consensus “Hold” rating, with 25 Holds, five Buys and five Sells; the consensus price target is $69.17.
• 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 fell 4.1% year over year.

Fiserv (NASDAQ:FISV - Get Free Report) had its price objective dropped by stock analysts at Citigroup from $57.00 to $53.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. Citigroup's price objective points to a potential upside of 11.46% from the stock's current price.

Several other equities research analysts have also commented on FISV. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price target (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $65.00 target price (down from $75.00) on shares of Fiserv in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their target price on shares of Fiserv from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. Bank of America initiated coverage on shares of Fiserv in a research report on Thursday. They set an "underperform" rating and a $48.00 price objective for the company. Finally, B. Riley Financial decreased their target price on shares of Fiserv from $66.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $69.17.

Fiserv Stock Performance

FISV traded up $0.34 during midday trading on Friday, reaching $47.55. The company had a trading volume of 4,932,184 shares, compared to its average volume of 7,588,729. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv has a 1 year low of $43.87 and a 1 year high of $128.78. The company has a market cap of $25.29 billion, a P/E ratio of 9.13, a P/E/G ratio of 4.60 and a beta of 0.80. The business has a 50-day moving average of $49.54 and a two-hundred day moving average of $52.79.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts predict that Fiserv will post 7.26 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, Director Lance Fritz bought 10,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director owned 27,207 shares of the company's stock, valued at approximately $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 the SEC website. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Fiserv during the second quarter worth $2,079,711,000. JANA Partners Management LP raised its holdings in shares of Fiserv by 97.5% during the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider's stock worth $247,507,000 after purchasing an additional 2,190,085 shares during the period. Deutsche Bank AG bought a new position in Fiserv during the 2nd quarter worth $178,310,000. Legal & General Group Plc bought a new position in Fiserv in the 2nd quarter worth approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. boosted its holdings in shares of Fiserv by 968.1% in the first 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. 90.98% of the stock is currently 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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