Fiserv (NYSE:FI) Reaches New 12-Month Low - Here's What Happened

Key Points

• Fiserv's stock price reached a new 52-week low of $120.79 during trading, closing at $120.83 with a substantial volume of 4,925,755 shares.
• Various analysts have revised their price targets for Fiserv, with Goldman Sachs lowering it from $192 to $149, while maintaining a "buy" rating; the overall consensus rating is "Moderate Buy" with an average price target of $202.73.
• Institutional investors hold a significant majority of Fiserv's stock, owning approximately 90.98% of the company, with notable increases in stakes by firms like Vanguard and JPMorgan Chase.

Fiserv, Inc. (NYSE:FI - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $120.79 and last traded at $120.83, with a volume of 4925755 shares. The stock had previously closed at $124.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna cut their price target on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research report on Thursday, July 24th. Wall Street Zen cut shares of Fiserv from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. The Goldman Sachs Group cut their price target on shares of Fiserv from $192.00 to $149.00 and set a "buy" rating on the stock in a research report on Monday. UBS Group cut their price target on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Truist Financial boosted their price objective on shares of Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $202.73.

Fiserv Stock Down 2.6%

The company has a market capitalization of $65.68 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.95. The firm's 50 day moving average price is $132.44 and its two-hundred day moving average price is $160.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business had revenue of $4.32 billion for the quarter. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock valued at $11,059,063,000 after buying an additional 535,407 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Fiserv by 77.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Fiserv by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock valued at $1,829,451,000 after buying an additional 253,544 shares during the last quarter. Nuveen LLC acquired a new position in shares of Fiserv during the 1st quarter worth approximately $1,722,584,000. Finally, Norges Bank acquired a new position in shares of Fiserv during the 2nd quarter worth approximately $1,252,260,000. Institutional investors and hedge funds own 90.98% of the company's stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.

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