Fiserv (NASDAQ:FISV) Lowered to “Hold” at Truist

Truist downgraded shares of Fiserv (NASDAQ:FISV) from a buy rating to a hold rating in a research report report published on Monday, The Fly reports. They currently have $120.00 price objective on the business services provider’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently issued reports on the stock. Truist Securities boosted their price objective on shares of Fiserv from $120.00 to $135.00 in a research report on Wednesday, April 28th. Morgan Stanley lifted their target price on shares of Fiserv from $115.00 to $124.00 and gave the company an equal weight rating in a research note on Thursday, April 22nd. Rosenblatt Securities lifted their target price on shares of Fiserv from $140.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, April 28th. Wells Fargo & Company lifted their target price on shares of Fiserv from $135.00 to $140.00 and gave the company an overweight rating in a research note on Wednesday, April 28th. Finally, KeyCorp lifted their target price on shares of Fiserv from $115.00 to $120.00 and gave the company an overweight rating in a research note on Wednesday, February 10th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Fiserv currently has a consensus rating of Buy and an average price target of $131.18.

NASDAQ:FISV opened at $109.49 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.03. Fiserv has a 12 month low of $92.15 and a 12 month high of $127.34. The company has a market cap of $73.00 billion, a P/E ratio of 85.54, a PEG ratio of 1.27 and a beta of 0.89. The stock has a 50 day moving average of $118.46.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Fiserv had a net margin of 5.86% and a return on equity of 9.56%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts predict that Fiserv will post 5.44 earnings per share for the current year.

In other Fiserv news, major shareholder Kkr Group Partnership L.P. sold 23,000,000 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $117.70, for a total value of $2,707,100,000.00. Also, insider Guy Chiarello sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $124.94, for a total transaction of $2,498,800.00. Following the completion of the transaction, the insider now owns 234,756 shares in the company, valued at $29,330,414.64. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Vantage Consulting Group Inc bought a new position in Fiserv in the 4th quarter worth about $26,000. CVA Family Office LLC purchased a new stake in shares of Fiserv in the 1st quarter worth approximately $29,000. Sonora Investment Management LLC lifted its position in shares of Fiserv by 100.0% in the 1st quarter. Sonora Investment Management LLC now owns 246 shares of the business services provider’s stock worth $29,000 after purchasing an additional 123 shares during the period. Center for Financial Planning Inc. purchased a new stake in shares of Fiserv in the 1st quarter worth approximately $33,000. Finally, CKW Financial Group purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; and Clover POS, a cloud-based point-of-sale solution.

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