Fiserv (NASDAQ:FISV) Shares Down 1.1% Following Analyst Downgrade

Fiserv, Inc. (NASDAQ:FISV)’s stock price was down 1.1% on Monday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $81.00 price target on the stock. Fiserv traded as low as $62.41 and last traded at $62.70. Approximately 5,426,787 shares traded hands during trading, a decline of 4% from the average daily volume of 5,633,148 shares. The stock had previously closed at $63.42.

Several other brokerages also recently weighed in on FISV. Robert W. Baird decreased their target price on shares of Fiserv from $225.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $91.00 price objective on shares of Fiserv in a research report on Thursday, October 30th. Mizuho set a $145.00 target price on Fiserv and gave the company an “outperform” rating in a report on Tuesday, October 28th. Royal Bank Of Canada set a $85.00 price target on Fiserv and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group lowered shares of Fiserv from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $149.00 to $79.00 in a research report on Thursday, October 30th. Eleven analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Hold” and an average target price of $123.25.

Insider Buying and Selling at Fiserv

In other Fiserv news, Director Lance M. Fritz purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average cost of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the purchase, the director directly owned 13,086 shares in the company, valued at $852,945.48. This represents a 324.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fiserv

Hedge funds and other institutional investors have recently bought and sold shares of the business. E Fund Management Co. Ltd. increased its holdings in shares of Fiserv by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 55 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Fiserv by 0.3% during the first quarter. Pinnacle Associates Ltd. now owns 16,794 shares of the business services provider’s stock worth $3,709,000 after buying an additional 57 shares during the period. LaSalle St. Investment Advisors LLC increased its holdings in Fiserv by 5.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 1,273 shares of the business services provider’s stock valued at $281,000 after buying an additional 62 shares in the last quarter. SageView Advisory Group LLC lifted its position in shares of Fiserv by 4.0% during the 1st quarter. SageView Advisory Group LLC now owns 1,598 shares of the business services provider’s stock valued at $353,000 after acquiring an additional 62 shares during the period. Finally, Howland Capital Management LLC boosted its stake in shares of Fiserv by 0.5% during the 1st quarter. Howland Capital Management LLC now owns 13,874 shares of the business services provider’s stock worth $3,064,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Down 1.1%

The firm has a market cap of $34.08 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.56 and a beta of 0.90. The business has a fifty day moving average of $110.07 and a two-hundred day moving average of $140.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.08.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $4.32 billion during the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%. As a group, equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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.