Fiserv (NYSE:FI) Price Target Raised to $240.00

Fiserv (NYSE:FI) had its price objective boosted by Wells Fargo & Company from $220.00 to $240.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

A number of other research firms also recently issued reports on FI. Barclays raised their price target on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their target price on Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. upped their price target on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho increased their price objective on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average price target of $224.00.

Fiserv Trading Up 1.2 %

Shares of NYSE:FI 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. Fiserv has a 1 year low of $136.93 and a 1 year high of $223.23. The company has a market cap of $118.71 billion, a P/E ratio of 40.13, a PEG ratio of 1.32 and a beta of 0.94. The stock’s fifty day moving average price is $209.45 and its 200-day moving average price is $186.76.

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

Insider Activity

In other news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares in the company, valued at $6,684,555.55. This represents a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,821 shares of company stock worth $18,581,095 over the last quarter. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Several large investors have recently bought and sold shares of the business. Clean Yield Group lifted its position in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Fiserv by 42.5% during the 3rd 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. Newbridge Financial Services Group Inc. lifted its holdings in shares of Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Kennebec Savings Bank purchased a new position in Fiserv in the third quarter worth about $40,000. Finally, Northwest Investment Counselors LLC bought a new stake in Fiserv during the third quarter worth approximately $44,000. 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.