Keefe, Bruyette & Woods Cuts Fiserv (NYSE:FI) Price Target to $240.00

Fiserv (NYSE:FI - Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $260.00 to $240.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider's stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Barclays upped their price target on Fiserv from $235.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. BMO Capital Markets dropped their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Seaport Res Ptn raised Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.88.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.36 during trading on Friday, hitting $177.89. The stock had a trading volume of 4,924,611 shares, compared to its average volume of 2,796,209. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market cap of $99.36 billion, a P/E ratio of 33.00, a PEG ratio of 1.52 and a beta of 0.91. The business has a fifty day moving average of $214.91 and a two-hundred day moving average of $212.03. Fiserv has a fifty-two week low of $146.25 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, sell-side analysts expect that Fiserv will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has approved a stock buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On Fiserv

Several institutional investors and hedge funds have recently bought and sold shares of FI. Vega Investment Solutions bought a new stake in Fiserv in the 4th quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the 4th quarter worth about $28,000. Valley National Advisers Inc. acquired a new position in Fiserv during the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new position in Fiserv during the 4th quarter valued at about $29,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $31,000. 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.