BMO Capital Markets Boosts Fiserv (NYSE:FI) Price Target to $175.00

Fiserv (NYSE:FI) had its price objective hoisted by BMO Capital Markets from $168.00 to $175.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

FI has been the topic of several other research reports. Keefe, Bruyette & Woods increased their target price on Fiserv from $178.00 to $184.00 and gave the stock an outperform rating in a research note on Thursday. Stephens reissued an equal weight rating and set a $165.00 target price on shares of Fiserv in a research note on Wednesday, April 24th. B. Riley increased their price target on Fiserv from $176.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, April 24th. KeyCorp increased their price target on Fiserv from $160.00 to $170.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, Citigroup increased their price target on Fiserv from $171.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $172.29.

Fiserv Stock Performance

NYSE FI opened at $159.94 on Thursday. The stock has a market cap of $93.58 billion, a PE ratio of 29.90, a P/E/G ratio of 1.30 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a twelve month low of $109.11 and a twelve month high of $162.47. The stock has a fifty day simple moving average of $151.29 and a 200-day simple moving average of $150.04.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Fiserv’s revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Fiserv will post 8.73 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. Insiders have sold 50,800 shares of company stock worth $7,696,448 in the last quarter. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings 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 period. Capital World Investors lifted its holdings in shares of Fiserv by 7.4% in 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 buying an additional 1,303,078 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $960,592,000. Veritas Asset Management LLP acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $927,298,000. Finally, Parnassus Investments LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $900,674,000. 90.98% of the stock is currently owned by hedge funds and other 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.