Fiserv (NYSE:FI) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Fiserv (NYSE:FI) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $255.00 target price on the business services provider’s stock.

Several other research firms also recently weighed in on FI. TD Cowen increased their target price on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised 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. Mizuho boosted their target price on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Susquehanna increased their price target on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of Fiserv from $220.00 to $258.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.88.

Fiserv Price Performance

Shares of NYSE FI opened at $205.98 on Thursday. The stock has a market cap of $117.19 billion, a P/E ratio of 39.61, a P/E/G ratio of 1.56 and a beta of 0.93. Fiserv has a twelve month low of $131.41 and a twelve month high of $223.23. The stock has a 50 day moving average of $209.10 and a two-hundred day moving average of $182.52. 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, topping analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. On average, research analysts forecast that Fiserv will post 8.77 earnings per share for the current year.

Insider Transactions at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,821 shares of company stock valued at $18,581,095. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clean Yield Group raised its stake in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the third quarter worth about $40,000. Northwest Investment Counselors LLC purchased a new position in Fiserv in the 3rd quarter worth $44,000. Finally, Wolff Wiese Magana LLC boosted its position in Fiserv by 904.0% in the third quarter. Wolff Wiese Magana LLC now owns 251 shares of the business services provider’s stock valued at $45,000 after buying an additional 226 shares during 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.