Fiserv (NYSE:FI) Price Target Raised to $258.00

Fiserv (NYSE:FI) had its price objective raised by Morgan Stanley from $220.00 to $258.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other research firms have also recently weighed in on FI. The Goldman Sachs Group boosted their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer initiated coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective for the company. Citigroup boosted their target price on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.88.

Fiserv Stock Up 1.9 %

Shares of Fiserv stock opened at $206.05 on Wednesday. Fiserv has a 12-month low of $131.41 and a 12-month high of $223.23. 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 stock has a 50 day moving average price of $207.37 and a two-hundred day moving average price of $178.87. The stock has a market capitalization of $117.23 billion, a P/E ratio of 39.63, a PEG ratio of 1.56 and a beta of 0.93.

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

Insider Transactions at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Heidi Miller sold 30,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their position. 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 three months. 0.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fiserv

A number of large investors have recently modified their holdings of the stock. Waypoint Capital Advisors LLC lifted its holdings in Fiserv by 1.7% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock worth $560,000 after buying an additional 51 shares in the last quarter. Optas LLC lifted its stake in shares of Fiserv by 1.7% during the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock valued at $578,000 after acquiring an additional 54 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the period. Covestor Ltd boosted its holdings in Fiserv by 7.6% in the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 59 shares during the last quarter. Finally, West Bancorporation Inc. increased its position in Fiserv by 3.8% in the third quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after purchasing an additional 61 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.