Fiserv (NYSE:FI) Given New $270.00 Price Target at Wells Fargo & Company

Fiserv (NYSE:FI) had its target price raised by Wells Fargo & Company from $240.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.45% from the company’s current price.

Several other research firms have also recently issued reports on FI. KeyCorp lifted their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Compass Point initiated coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. Stephens lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Susquehanna upped their price objective on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.29.

Fiserv Stock Performance

Fiserv stock traded up $2.33 during mid-day trading on Thursday, reaching $231.86. 421,111 shares of the stock traded hands, compared to its average volume of 2,535,632. Fiserv has a 12-month low of $140.26 and a 12-month high of $231.69. The business’s 50-day moving average is $208.61 and its 200-day moving average is $192.51. 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 stock has a market capitalization of $131.91 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. As a group, sell-side analysts predict that Fiserv will post 8.77 EPS for the current fiscal year.

Insider Activity

In other news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value 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 approximately $8,320,644.31. This represents a 34.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mission Wealth Management LP increased its position in shares of Fiserv by 1.5% in the 4th quarter. Mission Wealth Management LP now owns 20,621 shares of the business services provider’s stock valued at $4,236,000 after acquiring an additional 298 shares during the period. Financial Council LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at $200,000. Auxano Advisors LLC purchased a new stake in Fiserv in the fourth quarter valued at $252,000. Fidelis Capital Partners LLC lifted its holdings in shares of Fiserv by 8.3% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,882 shares of the business services provider’s stock valued at $841,000 after buying an additional 299 shares during the period. Finally, Silphium Asset Management Ltd boosted its stake in shares of Fiserv by 16.1% in the fourth quarter. Silphium Asset Management Ltd now owns 28,451 shares of the business services provider’s stock worth $5,844,000 after buying an additional 3,938 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.