Morgan Stanley Cuts Fiserv (NASDAQ:FISV) Price Target to $98.00

Fiserv (NASDAQ:FISVGet Rating) had its price objective decreased by Morgan Stanley from $118.00 to $98.00 in a report published on Tuesday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

FISV has been the topic of a number of other reports. StockNews.com started coverage on shares of Fiserv in a research note on Thursday, March 31st. They issued a hold rating on the stock. Loop Capital started coverage on shares of Fiserv in a research note on Monday, May 2nd. They issued a buy rating and a $125.00 price objective on the stock. TheStreet raised shares of Fiserv from a c+ rating to a b rating in a research note on Thursday, April 28th. William Blair reaffirmed an outperform rating on shares of Fiserv in a research note on Wednesday, March 9th. Finally, Cowen cut shares of Fiserv from an outperform rating to a market perform rating and reduced their price objective for the company from $144.00 to $126.00 in a research note on Tuesday, April 12th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $125.88.

Shares of Fiserv stock opened at $89.73 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $58.51 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.03 and a beta of 0.79. The firm has a 50 day simple moving average of $96.68 and a 200 day simple moving average of $100.02. Fiserv has a fifty-two week low of $87.03 and a fifty-two week high of $119.86.

Fiserv (NASDAQ:FISVGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The business services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.85 billion. Fiserv had a net margin of 10.23% and a return on equity of 12.05%. Fiserv’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. On average, sell-side analysts expect that Fiserv will post 6.48 EPS for the current year.

In other news, Director Holdings L.P. Valueact acquired 112,575 shares of the stock in a transaction dated Monday, May 2nd. The shares were bought at an average cost of $94.90 per share, for a total transaction of $10,683,367.50. Following the purchase, the director now directly owns 13,147,776 shares of the company’s stock, valued at $1,247,723,942.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 43,000 shares of the business’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $104.31, for a total transaction of $4,485,330.00. Following the transaction, the chief operating officer now owns 216,864 shares in the company, valued at $22,621,083.84. The disclosure for this sale can be found here. Insiders acquired a total of 1,404,234 shares of company stock worth $131,032,589 over the last quarter. Company insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of Fiserv during the 1st quarter worth about $29,000. Capital Advisors Ltd. LLC bought a new stake in shares of Fiserv during the 4th quarter worth about $30,000. Advocacy Wealth Management Services LLC boosted its holdings in Fiserv by 100.0% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 147 shares during the period. Trust Co. of Vermont bought a new stake in Fiserv in the 4th quarter valued at about $31,000. Finally, Missouri Trust & Investment Co bought a new stake in Fiserv in the 4th quarter valued at about $31,000. 97.24% of the stock is owned by institutional investors and hedge funds.

Fiserv Company Profile (Get Rating)

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; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.

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