KeyCorp Raises Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price objective boosted by KeyCorp from $170.00 to $180.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

FI has been the topic of a number of other reports. Wells Fargo & Company upped their price target on Fiserv from $180.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday. Robert W. Baird upped their price target on Fiserv from $185.00 to $186.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. B. Riley upped their price target on Fiserv from $180.00 to $185.00 and gave the stock a buy rating in a research note on Thursday. BMO Capital Markets increased their price objective on Fiserv from $168.00 to $175.00 and gave the company an outperform rating in a research note on Thursday. Finally, Morgan Stanley upgraded Fiserv from an equal weight rating to an overweight rating and increased their price objective for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $172.29.

Fiserv Price Performance

FI stock opened at $159.94 on Thursday. Fiserv has a 1 year low of $109.11 and a 1 year high of $162.47. The firm has a market capitalization of $93.58 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92. The business has a 50 day simple moving average of $151.29 and a 200-day simple moving average of $150.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Fiserv will post 8.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,800 shares of company stock valued at $7,696,448. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fiserv

A number of hedge funds have recently added to or reduced their stakes in the company. Wright Investors Service Inc. lifted its position in Fiserv by 97.9% in the second quarter. Wright Investors Service Inc. now owns 6,175 shares of the business services provider’s stock valued at $920,000 after purchasing an additional 3,054 shares during the period. Zimmermann Investment Management & Planning LLC lifted its position in Fiserv by 19.9% in the second quarter. Zimmermann Investment Management & Planning LLC now owns 3,527 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 586 shares during the period. Trajan Wealth LLC lifted its position in Fiserv by 6.7% in the second quarter. Trajan Wealth LLC now owns 142,596 shares of the business services provider’s stock valued at $21,253,000 after purchasing an additional 8,933 shares during the period. Conning Inc. lifted its position in Fiserv by 2.1% in the second quarter. Conning Inc. now owns 4,187 shares of the business services provider’s stock valued at $624,000 after purchasing an additional 86 shares during the period. Finally, Simmons Bank acquired a new stake in Fiserv in the second quarter valued at about $227,000. Institutional investors and hedge funds 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.