Fiserv (NYSE:FI) Price Target Increased to $224.00 by Analysts at Royal Bank of Canada

Fiserv (NYSE:FI) had its target price upped by Royal Bank of Canada from $183.00 to $224.00 in a research note released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

Several other research analysts also recently commented on FI. Barclays lifted their target price on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair upgraded Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Susquehanna lifted their price target on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Finally, B. Riley lifted their price target on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.38.

Fiserv Stock Down 1.9 %

FI stock opened at $199.52 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $180.04 and a two-hundred day moving average price of $162.37. The company has a market cap of $116.74 billion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 1.44 and a beta of 0.93. Fiserv has a twelve month low of $111.53 and a twelve month high of $204.50.

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 during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. Analysts anticipate that Fiserv will post 8.74 EPS for the current fiscal year.

Insider Transactions at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,890 shares of company stock valued at $40,934,217. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Fiserv by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after buying an additional 417,459 shares during the last quarter. Capital World Investors boosted its position in shares of Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after purchasing an additional 64,332 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Fiserv by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after purchasing an additional 85,598 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Fiserv by 67.2% during the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after purchasing an additional 1,306,901 shares in the last quarter. 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.