Fiserv (NYSE:FI) Given New $240.00 Price Target at Wells Fargo & Company

Fiserv (NYSE:FI) had its price target hoisted by equities researchers at Wells Fargo & Company from $220.00 to $240.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.02% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen raised their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upped their target price on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Oppenheimer raised their price target on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Citigroup upped their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Fiserv Trading Up 1.2 %

Shares of FI stock opened at $208.67 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $118.71 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 1.32 and a beta of 0.94. Fiserv has a 1 year low of $136.93 and a 1 year high of $223.23. The firm has a fifty day moving average price of $209.49 and a 200-day moving average price of $186.34.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Fiserv will post 8.77 earnings per share for the current year.

Insider Buying and Selling

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This trade represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,821 shares of company stock worth $18,581,095. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sanders Capital LLC bought a new position in Fiserv in the 3rd quarter valued at $764,543,000. FMR LLC boosted its stake in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Maj Invest Holding A S bought a new position in shares of Fiserv in the third quarter worth about $172,993,000. Kovitz Investment Group Partners LLC increased its stake in Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after buying an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after buying an additional 558,774 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

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.