Fiserv (NYSE:FI) Sets New 52-Week High - Here's What Happened

Shares of Fiserv, Inc. (NYSE:FI - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $234.53 and last traded at $234.16, with a volume of 311384 shares trading hands. The stock had previously closed at $230.60.

Analyst Ratings Changes

A number of research firms recently issued reports on FI. Royal Bank of Canada lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Mizuho increased their target price on shares of Fiserv from $183.00 to $222.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Oppenheimer upped their price target on Fiserv from $214.00 to $239.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $239.83.

Fiserv Trading Down 0.8 %

The business's 50-day simple moving average is $213.81 and its 200-day simple moving average is $198.28. The company has a market cap of $132.26 billion, a PE ratio of 43.13, a P/E/G ratio of 1.53 and a beta of 0.94. 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 announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock 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 buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.75% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its position in Fiserv by 3.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,660 shares of the business services provider's stock worth $837,000 after buying an additional 165 shares during the period. Eastern Bank acquired a new stake in Fiserv during the third quarter worth about $50,000. Commerzbank Aktiengesellschaft FI increased its stake in Fiserv by 41.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,221 shares of the business services provider's stock valued at $579,000 after acquiring an additional 943 shares during the period. Courier Capital LLC bought a new position in Fiserv during the third quarter valued at about $238,000. Finally, YHB Investment Advisors Inc. acquired a new position in Fiserv in the 3rd quarter valued at approximately $202,000. 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.