Fiserv (NYSE:FI) Shares Gap Down - Here's Why

Shares of Fiserv, Inc. (NYSE:FI - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $197.17, but opened at $191.93. Fiserv shares last traded at $192.09, with a volume of 575,868 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FI. TD Cowen increased their price target on Fiserv from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Fiserv from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Robert W. Baird lifted their price target on shares of Fiserv from $186.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, September 23rd. Jefferies Financial Group upped their price objective on shares of Fiserv from $195.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, BMO Capital Markets lifted their target price on shares of Fiserv from $175.00 to $191.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and an average price target of $190.04.

Fiserv Price Performance

The company has a fifty day moving average of $178.52 and a 200-day moving average of $161.81. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a market cap of $116.86 billion, a PE ratio of 37.33, a P/E/G ratio of 1.44 and a beta of 0.93.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.10 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. Sell-side analysts expect that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company's stock, valued at approximately $27,005,424.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company's stock, valued at approximately $27,005,424.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,890 shares of company stock valued at $32,855,417 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

Several large investors have recently modified their holdings of the company. Wellington Shields & Co. LLC acquired a new position in Fiserv in the 1st quarter valued at about $25,000. Clean Yield Group raised its stake in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider's stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock worth $34,000 after purchasing an additional 57 shares during the period. ZRC Wealth Management LLC purchased a new position in Fiserv in the 1st quarter valued at $32,000. Finally, Family Firm Inc. acquired a new position in Fiserv in the 2nd quarter valued at $31,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.