Fiserv (NYSE:FI) Price Target Raised to $232.00

Fiserv (NYSE:FI) had its price target boosted by BMO Capital Markets from $222.00 to $232.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 9.49% from the company’s previous close.

FI has been the subject of several other reports. BTIG Research began coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target for the company. JPMorgan Chase & Co. upped their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their target price on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Stephens upped their target price on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $211.52.

Fiserv Stock Performance

Shares of Fiserv stock traded up $0.97 on Monday, hitting $211.89. The stock had a trading volume of 278,329 shares, compared to its average volume of 2,468,510. Fiserv has a twelve month low of $121.86 and a twelve month high of $215.50. The business’s 50 day moving average is $191.36 and its two-hundred day moving average is $168.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market cap of $120.55 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

Fiserv (NYSE:FI) last issued 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. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. Analysts forecast that Fiserv will post 8.77 EPS for the current year.

Insider Transactions at Fiserv

In related news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 40.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,711 shares of company stock valued at $47,477,232. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new stake in shares of Fiserv during the first quarter valued at approximately $25,000. Clean Yield Group raised its holdings in 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 buying an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after buying an additional 57 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Fiserv during the second quarter valued at about $31,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Fiserv in the 3rd quarter worth about $40,000. 90.98% of the stock is owned by institutional investors and hedge funds.

About Fiserv

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.