Fiserv (NASDAQ:FISV) Hits New 52-Week Low on Analyst Downgrade

Shares of Fiserv, Inc. (NASDAQ:FISV) reached a new 52-week low during trading on Tuesday after Northcoast Research downgraded the stock from a buy rating to a neutral rating. The company traded as low as $59.09 and last traded at $59.16, with a volume of 4193128 shares. The stock had previously closed at $62.94.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Fiserv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Citigroup dropped their price objective on Fiserv from $128.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. TD Cowen reiterated a “hold” rating on shares of Fiserv in a research report on Monday, January 12th. Sanford C. Bernstein cut shares of Fiserv from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $205.00 to $80.00 in a report on Thursday, October 30th. Finally, UBS Group set a $75.00 price objective on shares of Fiserv and gave the company a “neutral” rating in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.34.

Insider Activity at Fiserv

In related news, CFO Paul M. Todd bought 17,000 shares of the stock in a transaction on Monday, December 1st. The stock was bought at an average price of $62.41 per share, for a total transaction of $1,060,970.00. Following the completion of the acquisition, the chief financial officer directly owned 24,453 shares in the company, valued at approximately $1,526,111.73. This represents a 228.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam L. Rosman purchased 7,900 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was bought at an average price of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the acquisition, the insider directly owned 61,285 shares in the company, valued at approximately $3,872,599.15. This trade represents a 14.80% increase in their position. The SEC filing for this purchase provides additional information. 0.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fiserv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in shares of Fiserv in the 4th quarter valued at about $3,507,063,000. Capital World Investors boosted its stake in Fiserv by 35.2% in the third quarter. Capital World Investors now owns 25,781,919 shares of the business services provider’s stock valued at $3,324,073,000 after acquiring an additional 6,714,536 shares in the last quarter. Norges Bank purchased a new position in Fiserv in the second quarter worth $1,252,260,000. Amundi increased its position in shares of Fiserv by 27.2% during the second quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock worth $652,148,000 after purchasing an additional 807,916 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Fiserv by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 3,638,031 shares of the business services provider’s stock valued at $469,051,000 after purchasing an additional 131,935 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

The firm has a fifty day moving average price of $66.33 and a 200 day moving average price of $99.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $31.59 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.78.

About Fiserv

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.