Fiserv (NYSE:FI) Given New $190.00 Price Target at Wells Fargo & Company

Fiserv (NYSE:FI) had its price target lifted by Wells Fargo & Company from $180.00 to $190.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts have also weighed in on the stock. Stephens reiterated an equal weight rating and set a $165.00 target price on shares of Fiserv in a research report on Wednesday, April 24th. UBS Group upped their price objective on Fiserv from $170.00 to $185.00 and gave the company a buy rating in a research note on Wednesday, April 24th. StockNews.com raised Fiserv from a hold rating to a buy rating in a report on Wednesday, June 26th. Morgan Stanley raised Fiserv from an equal weight rating to an overweight rating and boosted their price target for the company from $154.00 to $175.00 in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on Fiserv from $178.00 to $184.00 and gave the stock an outperform rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $170.19.

Fiserv Trading Up 0.8 %

Shares of Fiserv stock opened at $157.26 on Thursday. Fiserv has a 1 year low of $109.11 and a 1 year high of $162.47. The company’s fifty day simple moving average is $151.15 and its 200-day simple moving average is $149.67. The company has a market cap of $92.01 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.30 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $1.81 EPS. As a group, sell-side analysts expect that Fiserv will post 8.69 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,800 shares of company stock worth $7,696,448. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $5,885,279,000. Capital World Investors bought a new stake in Fiserv in the fourth quarter valued at approximately $2,329,623,000. Massachusetts Financial Services Co. MA acquired a new stake in Fiserv in the fourth quarter worth $960,592,000. Veritas Asset Management LLP bought a new position in shares of Fiserv during the fourth quarter worth $927,298,000. Finally, Parnassus Investments LLC acquired a new position in shares of Fiserv in the 4th quarter valued at $900,674,000. 90.98% of the stock is currently 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.