Citigroup Lowers Fiserv (NYSE:FI) Price Target to $240.00

Fiserv (NYSE:FI - Free Report) had its price target reduced by Citigroup from $267.00 to $240.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the business services provider's stock.

A number of other analysts have also recently weighed in on FI. Redburn Atlantic reaffirmed a "sell" rating and set a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. Seaport Res Ptn upgraded shares of Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Susquehanna cut their price objective on shares of Fiserv from $270.00 to $250.00 and set a "positive" rating on the stock in a report on Tuesday, April 15th. KeyCorp lifted their target price on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of "Moderate Buy" and an average price target of $233.33.

Fiserv Stock Performance

Shares of Fiserv stock traded up $0.65 during trading on Friday, reaching $177.55. The company's stock had a trading volume of 7,893,959 shares, compared to its average volume of 2,787,661. The company has a 50-day moving average price of $216.08 and a two-hundred day moving average price of $212.12. The firm has a market cap of $99.17 billion, a PE ratio of 32.94, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. On average, analysts forecast that Fiserv will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Fiserv

Several institutional investors and hedge funds have recently added to or reduced their stakes in FI. Barclays PLC boosted its stake in Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider's stock valued at $302,737,000 after buying an additional 48,413 shares during the last quarter. Invst LLC bought a new stake in Fiserv during the 3rd quarter valued at $211,000. SkyView Investment Advisors LLC boosted its holdings in Fiserv by 4.4% in the third quarter. SkyView Investment Advisors LLC now owns 5,275 shares of the business services provider's stock worth $948,000 after acquiring an additional 223 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Fiserv by 1.4% during the third quarter. Anchor Investment Management LLC now owns 35,463 shares of the business services provider's stock valued at $6,371,000 after acquiring an additional 497 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in Fiserv by 1,469.7% in the 3rd quarter. World Investment Advisors LLC now owns 55,802 shares of the business services provider's stock worth $10,025,000 after buying an additional 52,247 shares during the period. 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.