Royal Bank of Canada Boosts Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price objective hoisted by Royal Bank of Canada from $158.00 to $180.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other analysts have also issued reports on FI. KeyCorp boosted their price objective on shares of Fiserv from $160.00 to $170.00 and gave the company an overweight rating in a report on Monday, April 22nd. BMO Capital Markets lifted their target price on Fiserv from $163.00 to $168.00 and gave the company an outperform rating in a research report on Wednesday. StockNews.com began coverage on Fiserv in a research report on Saturday, February 3rd. They issued a buy rating for the company. Barclays lifted their target price on Fiserv from $165.00 to $185.00 and gave the company an overweight rating in a research report on Monday, April 1st. Finally, BNP Paribas raised Fiserv from a neutral rating to an outperform rating in a research report on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $164.33.

Fiserv Stock Up 1.7 %

NYSE FI opened at $155.89 on Wednesday. Fiserv has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The business’s fifty day simple moving average is $152.54 and its 200-day simple moving average is $137.90. The firm has a market cap of $91.21 billion, a PE ratio of 29.14, a P/E/G ratio of 1.26 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. Fiserv’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. As a group, equities analysts anticipate that Fiserv will post 8.69 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,477,911.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 111,575 shares of company stock worth $17,022,387 over the last three months. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Several large investors have recently modified their holdings of FI. Vanguard Group Inc. acquired a new stake in shares of Fiserv during the third quarter worth $5,705,241,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Fiserv during the fourth quarter worth $5,885,279,000. Capital World Investors acquired a new stake in shares of Fiserv during the fourth quarter worth $2,329,623,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Fiserv during the fourth quarter worth $960,592,000. Finally, Veritas Asset Management LLP acquired a new stake in shares of Fiserv during the fourth quarter worth $927,298,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.