Fiserv, Inc. (FISV) Shares Gap Down on Disappointing Earnings

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.

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About Fiserv

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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