Fiserv (NYSE:FI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Fiserv (NYSE:FI) had its target price hoisted by Wells Fargo & Company from $220.00 to $240.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. KeyCorp increased their price target on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Tigress Financial lifted their price target on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Fiserv Stock Performance

NYSE FI opened at $206.21 on Thursday. The stock has a market capitalization of $117.32 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 1.32 and a beta of 0.94. The business’s 50 day moving average is $209.55 and its two-hundred day moving average is $186.20. Fiserv has a 12-month low of $136.48 and a 12-month high of $223.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last posted 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. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Research analysts expect that Fiserv will post 8.77 EPS for the current year.

Insider Activity

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the transaction, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This trade represents a 47.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,821 shares of company stock valued at $18,581,095 over the last quarter. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Soros Capital Management LLC grew its position in Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after acquiring an additional 22,884 shares during the period. Czech National Bank grew its holdings in shares of Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares during the period. Chiron Investment Management LLC acquired a new stake in Fiserv during the 3rd quarter worth approximately $4,709,000. Cardano Risk Management B.V. purchased a new position in Fiserv in the fourth quarter valued at approximately $97,254,000. Finally, Maxwell Wealth Strategies Inc. lifted its position in Fiserv by 23.6% during the third 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. 90.98% of the stock is 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.