Fiserv, Inc. (NASDAQ:FISV) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at ($124.00), but opened at $0.00. Fiserv shares last traded at $0.00, with a volume of 4674002 shares traded.
The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Fiserv had a return on equity of 43.10% and a net margin of 16.31%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share.
A number of equities analysts have recently issued reports on the company. Barclays PLC restated an “equal weight” rating and issued a $123.00 price target (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. BidaskClub upgraded Fiserv from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Robert W. Baird restated an “outperform” rating and issued a $146.00 price target (up from $136.00) on shares of Fiserv in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Fiserv from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $130.00 price target on shares of Fiserv in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Fiserv presently has an average rating of “Hold” and a consensus target price of $128.45.
In other news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $124.54, for a total value of $762,682.96. Following the transaction, the director now directly owns 42,141 shares in the company, valued at $5,248,240.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $127.22, for a total value of $2,162,740.00. Following the completion of the transaction, the insider now owns 313,835 shares in the company, valued at $39,926,088.70. The disclosure for this sale can be found here. Insiders have sold 57,124 shares of company stock worth $7,133,943 over the last quarter. 1.80% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Gardiner Nancy B lifted its position in shares of Fiserv by 6.5% in the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock valued at $1,445,000 after acquiring an additional 762 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Fiserv in the second quarter valued at about $201,000. Dupont Capital Management Corp lifted its position in shares of Fiserv by 6.8% in the second quarter. Dupont Capital Management Corp now owns 12,967 shares of the business services provider’s stock valued at $1,586,000 after acquiring an additional 826 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Fiserv by 2.2% in the second quarter. Great Lakes Advisors LLC now owns 17,228 shares of the business services provider’s stock valued at $2,108,000 after acquiring an additional 378 shares in the last quarter. Finally, Tredje AP fonden lifted its position in shares of Fiserv by 38.1% in the second quarter. Tredje AP fonden now owns 69,035 shares of the business services provider’s stock valued at $8,446,000 after acquiring an additional 19,050 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Fiserv, Inc. (FISV) Shares Gap Down on Disappointing Earnings” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.com-unik.info/2017/11/02/fiserv-inc-fisv-shares-gap-down-on-disappointing-earnings.html.
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.
What are top analysts saying about Fiserv Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fiserv Inc. and related companies.