Fiserv (NYSE:FI) Rating Increased to Neutral at Monness Crespi & Hardt

Fiserv (NYSE:FI) was upgraded by Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports.

A number of other research firms also recently issued reports on FI. JPMorgan Chase & Co. reduced their price target on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Wall Street Zen started coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating on the stock. Citigroup cut their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group lowered their target price on Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods lowered their target price on Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.59.

Fiserv Trading Down 0.9%

Fiserv stock opened at $165.78 on Monday. The firm’s 50-day moving average is $167.76 and its 200-day moving average is $196.70. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv has a 1 year low of $154.17 and a 1 year high of $238.59. The company has a market cap of $91.91 billion, a P/E ratio of 29.29, a PEG ratio of 1.02 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that Fiserv will post 10.23 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FI. Nuveen LLC purchased a new position in shares of Fiserv in the first quarter worth approximately $1,722,584,000. Norges Bank bought a new stake in Fiserv in the fourth quarter worth approximately $1,406,452,000. JPMorgan Chase & Co. grew its position in Fiserv by 77.2% in the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares in the last quarter. GAMMA Investing LLC grew its position in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after acquiring an additional 3,804,358 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after acquiring an additional 2,174,025 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.