BMO Capital Markets Boosts Fiserv (NYSE:FI) Price Target to $232.00

Fiserv (NYSE:FI) had its price target upped by BMO Capital Markets from $222.00 to $232.00 in a research report report published on Monday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

A number of other brokerages have also commented on FI. B. Riley raised their price target on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 25th. William Blair raised shares of Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer began coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.52.

Fiserv Stock Up 0.9 %

FI stock opened at $212.77 on Monday. 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 firm’s 50-day simple moving average is $192.16 and its 200 day simple moving average is $169.12. The stock has a market cap of $121.05 billion, a PE ratio of 40.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Fiserv has a fifty-two week low of $121.86 and a fifty-two week high of $215.50.

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

Insider Activity at Fiserv

In other news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $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 available at this link. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,711 shares of company stock valued at $47,477,232. Company insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC grew its stake in Fiserv by 3,016.0% in the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after purchasing an additional 3,197 shares in the last quarter. Maxwell Wealth Strategies Inc. grew its stake in shares of Fiserv by 23.6% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after buying an additional 2,869 shares in the last quarter. Park Place Capital Corp increased its holdings in Fiserv by 66.3% in the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after buying an additional 2,794 shares during the last quarter. Radnor Capital Management LLC bought a new position in Fiserv during the third quarter valued at approximately $1,543,000. Finally, Acadian Asset Management LLC lifted its stake in Fiserv by 377.3% in the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after acquiring an additional 44,776 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.