Fiserv (NYSE:FI) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Fiserv (NYSE:FI) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $260.00 price target on the business services provider’s stock, up from their previous price target of $246.00.

FI has been the topic of a number of other reports. Stephens boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Morgan Stanley upped their target price on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. StockNews.com assumed coverage on Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, KeyCorp upped their price target on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Buy” and an average price target of $243.64.

Fiserv Stock Performance

Fiserv stock opened at $198.77 on Wednesday. Fiserv has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average is $222.85 and its 200 day moving average is $209.18. The company has a market capitalization of $111.57 billion, a P/E ratio of 36.88, a PEG ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities research analysts predict that Fiserv will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fiserv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC increased its holdings in shares of Fiserv by 5.0% in the first quarter. Quent Capital LLC now owns 2,070 shares of the business services provider’s stock valued at $457,000 after buying an additional 98 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Fiserv by 146.4% in the 1st quarter. Versant Capital Management Inc now owns 1,503 shares of the business services provider’s stock worth $332,000 after acquiring an additional 893 shares during the last quarter. Lederer & Associates Investment Counsel CA raised its position in shares of Fiserv by 10.5% during the first quarter. Lederer & Associates Investment Counsel CA now owns 7,769 shares of the business services provider’s stock worth $1,716,000 after purchasing an additional 737 shares during the period. First Financial Bank Trust Division lifted its holdings in shares of Fiserv by 0.5% during the first quarter. First Financial Bank Trust Division now owns 25,298 shares of the business services provider’s stock valued at $5,587,000 after purchasing an additional 138 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its position in shares of Fiserv by 6.8% in the 4th quarter. Centaurus Financial Inc. now owns 2,588 shares of the business services provider’s stock valued at $532,000 after purchasing an additional 164 shares during the period. 90.98% of the stock is 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.