Fiserv’s (FISV) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Fiserv Inc (NASDAQ:FISV) in a report published on Tuesday morning. Wedbush currently has a $146.25 price objective on the business services provider’s stock, up from their previous price objective of $115.00.

A number of other research analysts also recently issued reports on the company. Credit Suisse Group AG restated a hold rating and issued a $116.00 price objective on shares of Fiserv in a research note on Friday, April 28th. Cantor Fitzgerald upped their price objective on Fiserv from $107.00 to $118.00 and gave the company a neutral rating in a research note on Friday, April 28th. Zacks Investment Research downgraded Fiserv from a buy rating to a hold rating in a research note on Friday, April 28th. Royal Bank of Canada restated a hold rating and issued a $123.00 price objective on shares of Fiserv in a research note on Friday, April 28th. Finally, Vetr downgraded Fiserv from a buy rating to a hold rating and set a $121.50 price objective for the company. in a research note on Thursday, April 20th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Fiserv currently has an average rating of Hold and an average price target of $117.78.

Shares of Fiserv (NASDAQ FISV) opened at 123.75 on Tuesday. The firm has a market cap of $26.28 billion, a P/E ratio of 30.91 and a beta of 0.80. Fiserv has a one year low of $92.81 and a one year high of $126.28. The firm’s 50-day moving average price is $120.95 and its 200 day moving average price is $113.57.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Wednesday, April 26th. The business services provider reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.07. Fiserv had a return on equity of 38.06% and a net margin of 16.89%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. Fiserv’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Fiserv will post $5.13 EPS for the current year.

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In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $121.85, for a total transaction of $2,071,450.00. Following the completion of the transaction, the insider now owns 323,776 shares in the company, valued at approximately $39,452,105.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery W. Yabuki sold 2,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $120.19, for a total value of $240,380.00. Following the transaction, the insider now owns 337,151 shares of the company’s stock, valued at approximately $40,522,178.69. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $6,051,120 in the last quarter. 1.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock valued at $1,654,185,000 after buying an additional 13,827,530 shares during the last quarter. Norges Bank bought a new stake in shares of Fiserv during the fourth quarter worth about $186,702,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Fiserv during the fourth quarter worth about $39,604,000. Asset Management One Co. Ltd. boosted its stake in shares of Fiserv by 1,801.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 388,802 shares of the business services provider’s stock worth $41,349,000 after buying an additional 368,354 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Fiserv by 152.1% in the first quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock worth $53,001,000 after buying an additional 277,357 shares during the period. Institutional investors own 86.46% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.

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