BMO Capital Markets Increases Fiserv (NYSE:FI) Price Target to $175.00

Fiserv (NYSE:FI) had its target price hoisted by stock analysts at BMO Capital Markets from $168.00 to $175.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 8.84% from the company’s previous close.

A number of other brokerages also recently commented on FI. 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 report on Monday. TD Cowen upped their price target on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays upped their price target on shares of Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Robert W. Baird increased their target price on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $168.96.

Fiserv Trading Down 0.2 %

Shares of FI traded down $0.37 during mid-day trading on Thursday, hitting $160.79. The company had a trading volume of 1,024,463 shares, compared to its average volume of 2,491,645. Fiserv has a 1-year low of $109.11 and a 1-year high of $162.47. The business’s 50-day simple moving average is $151.09 and its 200-day simple moving average is $149.62. The stock has a market cap of $94.08 billion, a PE ratio of 30.05, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Sell-side analysts forecast that Fiserv will post 8.69 earnings per share for the current year.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv 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 completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,304,390.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were 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 in the company, valued at $4,213,329.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Insiders sold 50,800 shares of company stock worth $7,696,448 over the last three months. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

Several hedge funds have recently bought and sold shares of FI. Price T Rowe Associates Inc. MD purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $5,885,279,000. Capital World Investors purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $2,329,623,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $960,592,000. Veritas Asset Management LLP purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $927,298,000. Finally, Parnassus Investments LLC purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $900,674,000. 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.