Fiserv (NASDAQ:FISV) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $90.00 price objective on the business services provider’s stock, up from their prior price objective of $76.00. Stephens’ target price suggests a potential upside of 24.02% from the stock’s current price.
Several other equities research analysts have also issued reports on FISV. Zacks Investment Research lowered Fiserv from a “hold” rating to a “sell” rating in a report on Monday, October 15th. ValuEngine upgraded Fiserv from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Cantor Fitzgerald reiterated a “hold” rating and set a $73.00 price target on shares of Fiserv in a report on Wednesday. BidaskClub lowered Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Finally, Barclays assumed coverage on Fiserv in a report on Wednesday, November 14th. They set an “overweight” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $82.47.
Shares of NASDAQ FISV opened at $72.57 on Wednesday. The stock has a market cap of $29.90 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.78. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.01 and a quick ratio of 1.01. Fiserv has a one year low of $62.76 and a one year high of $82.79.
In related news, insider Jeffery W. Yabuki sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $73.98, for a total value of $3,699,000.00. Following the transaction, the insider now directly owns 320,014 shares of the company’s stock, valued at approximately $23,674,635.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Cornerstone Advisors Inc. increased its position in Fiserv by 19.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 906 shares of the business services provider’s stock worth $67,000 after buying an additional 146 shares during the period. Legacy Financial Advisors Inc. boosted its stake in Fiserv by 114.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 553 shares of the business services provider’s stock worth $41,000 after purchasing an additional 295 shares in the last quarter. Daiwa SB Investments Ltd. boosted its stake in Fiserv by 9.1% in the fourth quarter. Daiwa SB Investments Ltd. now owns 11,870 shares of the business services provider’s stock worth $872,000 after purchasing an additional 990 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Fiserv by 5.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,412 shares of the business services provider’s stock worth $1,132,000 after purchasing an additional 754 shares in the last quarter. Finally, Windward Capital Management Co. CA boosted its stake in Fiserv by 0.5% in the fourth quarter. Windward Capital Management Co. CA now owns 271,120 shares of the business services provider’s stock worth $19,925,000 after purchasing an additional 1,412 shares in the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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