Fiserv (FISV) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fiserv (NASDAQ:FISV) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $154.00 target price on the business services provider’s stock.

According to Zacks, “Fiserv reported strong fourth-quarter 2017 results. Both earnings and revenues grew on a year-over-year basis. The company is benefiting from an expanding customer base, robust product portfolio and higher recurring revenues. While product-oriented acquisitions are leading to a steady flow of customers, investment in digital-oriented technologies is improving competitiveness. Fiserv is witnessing an increase in the adoption of DNA as well as other digital banking solutions due to its improved architecture, flexible user interface and other digital capacities.  However, the company’s highly leveraged balance sheet continues to weigh on its profitability. Moreover, lower termination fees, EMV deferral and adverse foreign currency translations are negatively impacting the company’s sales. In the past one-year, shares have underperformed the industry it belongs to.”

Other research analysts also recently issued research reports about the stock. SunTrust Banks raised shares of Fiserv from a hold rating to a buy rating in a report on Friday, February 9th. Cowen reaffirmed a hold rating and issued a $135.00 price target on shares of Fiserv in a report on Thursday, February 8th. BMO Capital Markets increased their price target on shares of Fiserv from $133.00 to $152.00 and gave the company an average rating in a report on Thursday, February 8th. Cantor Fitzgerald reaffirmed a hold rating and issued a $126.00 price target on shares of Fiserv in a report on Wednesday, February 7th. Finally, Robert W. Baird increased their price target on shares of Fiserv from $146.00 to $160.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Fiserv presently has an average rating of Hold and an average price target of $140.73.

Fiserv (FISV) opened at $142.72 on Tuesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.02 and a quick ratio of 1.01. Fiserv has a 1-year low of $110.48 and a 1-year high of $144.20. The company has a market cap of $29,269.70, a PE ratio of 24.61, a P/E/G ratio of 1.96 and a beta of 0.87.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.03. Fiserv had a net margin of 21.88% and a return on equity of 44.58%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm earned $1.16 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts expect that Fiserv will post 6.22 earnings per share for the current year.

In other Fiserv news, insider Jeffery W. Yabuki sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $128.35, for a total value of $256,700.00. Following the completion of the sale, the insider now owns 236,835 shares of the company’s stock, valued at $30,397,772.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin J. Schultz sold 3,439 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $131.51, for a total transaction of $452,262.89. The disclosure for this sale can be found here. In the last three months, insiders sold 49,439 shares of company stock valued at $6,605,353. 1.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FISV. Longview Partners Guernsey LTD raised its stake in shares of Fiserv by 23.3% during the third quarter. Longview Partners Guernsey LTD now owns 5,391,519 shares of the business services provider’s stock valued at $695,290,000 after acquiring an additional 1,020,121 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $43,081,000. Ardevora Asset Management LLP bought a new stake in shares of Fiserv during the third quarter valued at approximately $35,645,000. Assenagon Asset Management S.A. bought a new stake in shares of Fiserv during the third quarter valued at approximately $28,337,000. Finally, Ninepoint Partners LP bought a new stake in shares of Fiserv during the third quarter valued at approximately $27,056,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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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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