Fiserv (NASDAQ:FISV) Sets New 1-Year Low on Analyst Downgrade

Key Points

• Fiserv shares fell to a new 52-week low of $44.82 after B. Riley Financial cut its price target from $66 to $51 and maintained a neutral rating.
• Analyst sentiment is broadly cautious: Fiserv has a consensus “Hold” rating and a $73.70 average price target, though recent targets and ratings have been reduced by several firms.
• Fiserv recently missed quarterly expectations, reporting $1.84 in adjusted earnings per share versus $1.91 expected and revenue of $4.96 billion versus $5.04 billion, with revenue down 4.1% year over year.

Fiserv, Inc. (NASDAQ:FISV - Get Free Report) reached a new 52-week low on Monday after B. Riley Financial lowered their price target on the stock from $66.00 to $51.00. B. Riley Financial currently has a neutral rating on the stock. Fiserv traded as low as $44.82 and last traded at $45.36, with a volume of 563031 shares traded. The stock had previously closed at $46.48.

A number of other research firms have also recently commented on FISV. Keefe, Bruyette & Woods reduced their price objective on Fiserv from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. BNP Paribas Exane downgraded Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 target price for the company. in a research report on Friday, June 5th. Morgan Stanley set a $59.00 price target on shares of Fiserv in a report on Friday, August 7th. UBS Group set a $60.00 target price on Fiserv and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, BMO Capital Markets reiterated 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. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given 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 price target of $73.70.

Insider Transactions at Fiserv

In other Fiserv news, Director Lance Fritz acquired 10,000 shares of the company's stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, with a total value of $519,500.00. Following the acquisition, the director directly 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Fiserv

Institutional investors have recently modified their holdings of the stock. Private Wealth Asset Management LLC purchased a new stake in Fiserv in the 4th quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Fiserv in the 4th quarter valued at about $27,000. Reflection Asset Management acquired a new position in Fiserv in the 4th quarter worth about $36,000. IAG Wealth Partners LLC acquired a new stake in Fiserv in the fourth quarter valued at approximately $41,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Fiserv in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Price Performance

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 $24.29 billion, a PE ratio of 8.77, a PEG ratio of 4.64 and a beta of 0.80. The stock has a 50-day moving average price of $51.56 and a 200 day moving average price of $53.90.

Fiserv (NASDAQ:FISV - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share 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 company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The business's revenue was down 4.1% compared to the same quarter last year. Equities analysts forecast that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.

About Fiserv

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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