BMO Capital Markets Raises Fiserv (NYSE:FI) Price Target to $232.00

Fiserv (NYSE:FI) had its price objective boosted by BMO Capital Markets from $222.00 to $232.00 in a report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other research analysts also recently weighed in on the company. B. Riley upped their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna upped their price objective on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. BTIG Research started coverage on shares of Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. Stephens boosted their target price on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Price Performance

NYSE:FI opened at $217.55 on Monday. The company has a 50 day moving average price of $194.83 and a 200-day moving average price of $170.25. Fiserv has a 1-year low of $125.05 and a 1-year high of $219.11. The firm has a market cap of $123.77 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Fiserv will post 8.77 EPS for the current year.

Insider Buying and Selling at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fiserv

Institutional investors have recently modified their holdings of the company. Wellington Shields & Co. LLC purchased a new stake in shares of Fiserv in the first quarter valued at about $25,000. Family Firm Inc. purchased a new stake in Fiserv in the 2nd quarter valued at approximately $31,000. Clean Yield Group grew its holdings in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in Fiserv by 42.5% during 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. Finally, Newbridge Financial Services Group Inc. raised its stake in Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.