Citigroup Issues Positive Forecast for Fiserv (NYSE:FI) Stock Price

Fiserv (NYSE:FI) had its price target lifted by Citigroup from $230.00 to $233.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other research firms have also issued reports on FI. Barclays increased their price target on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. KeyCorp increased their target price on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price objective on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $223.17.

Fiserv Trading Up 1.5 %

Shares of FI opened at $204.56 on Tuesday. The business’s 50-day moving average price is $209.69 and its 200 day moving average price is $186.07. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $116.38 billion, a P/E ratio of 39.34, a P/E/G ratio of 1.56 and a beta of 0.94. Fiserv has a 1-year low of $135.97 and a 1-year high of $223.23.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. Analysts expect that Fiserv will post 8.77 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. The trade was a 34.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This represents a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,821 shares of company stock valued at $18,581,095 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FI. Sanders Capital LLC bought a new stake in shares of Fiserv in the 3rd quarter valued at about $764,543,000. FMR LLC grew its holdings in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Maj Invest Holding A S bought a new stake in Fiserv in the third quarter valued at approximately $172,993,000. Kovitz Investment Group Partners LLC raised its holdings in Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC boosted its position in shares of Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

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.