BMO Capital Markets Forecasts Strong Price Appreciation for Fiserv (NYSE:FI) Stock

Fiserv (NYSE:FI - Free Report) had its price target lifted by BMO Capital Markets from $222.00 to $232.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the business services provider's stock.

Several other equities analysts have also recently issued reports on FI. Jefferies Financial Group lifted their price target on Fiserv from $195.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Oppenheimer began coverage on Fiserv in a research report on Tuesday, October 1st. They set an "outperform" rating and a $203.00 target price on the stock. Barclays increased their price target on Fiserv from $185.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Citigroup boosted their price objective on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Fiserv from $188.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.52.

Fiserv Stock Up 0.9 %

NYSE:FI traded up $1.85 during mid-day trading on Monday, reaching $212.77. The stock had a trading volume of 1,748,863 shares, compared to its average volume of 2,475,104. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $121.05 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Fiserv has a 1-year low of $121.86 and a 1-year high of $215.50. The stock's 50 day simple moving average is $191.36 and its two-hundred day simple moving average is $168.67.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. Fiserv's quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Fiserv will post 8.77 EPS for the current year.

Insider Buying and Selling

In related news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on 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 owns 38,771 shares of the company's stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares of the company's stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,711 shares of company stock valued at $47,477,232 over the last quarter. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FI. Waypoint Capital Advisors LLC lifted its holdings in Fiserv by 1.7% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider's stock worth $560,000 after buying an additional 51 shares during the last quarter. Optas LLC raised its position in Fiserv by 1.7% during the third quarter. Optas LLC now owns 3,216 shares of the business services provider's stock valued at $578,000 after acquiring an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock valued at $34,000 after buying an additional 57 shares during the last quarter. Covestor Ltd lifted its stake in shares of Fiserv by 7.6% in the third quarter. Covestor Ltd now owns 832 shares of the business services provider's stock valued at $150,000 after buying an additional 59 shares during the period. Finally, West Bancorporation Inc. raised its holdings in shares of Fiserv by 3.8% in the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider's stock worth $296,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

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.