Fiserv (NYSE:FI) Price Target Raised to $258.00

Fiserv (NYSE:FI - Get Free Report) had its target price increased by stock analysts at Morgan Stanley from $220.00 to $258.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Morgan Stanley's price target points to a potential upside of 27.87% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Fiserv from $195.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Susquehanna upped their price target on Fiserv from $190.00 to $230.00 and gave the stock a "positive" rating in a research report on Friday, October 18th. Oppenheimer began coverage on Fiserv in a research note on Tuesday, October 1st. They set an "outperform" rating and a $203.00 target price on the stock. Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on Fiserv from $183.00 to $224.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $221.38.

Fiserv Stock Down 1.2 %

FI stock traded down $2.39 during trading on Wednesday, hitting $201.76. 3,346,823 shares of the company's stock traded hands, compared to its average volume of 2,540,236. The firm has a market capitalization of $114.79 billion, a P/E ratio of 38.80, a PEG ratio of 1.56 and a beta of 0.93. Fiserv has a 1 year low of $131.41 and a 1 year high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $206.49 and a two-hundred day simple moving average of $178.14.

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

Insider Buying and Selling

In related news, Director Doyle Simons sold 40,000 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares of the company's stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,821 shares of company stock valued at $44,299,745. Corporate insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Fiserv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Capital LLC acquired a new position in Fiserv in the 3rd quarter valued at $764,543,000. FMR LLC raised its position in shares of Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider's stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the last quarter. Maj Invest Holding A S purchased a new position in shares of Fiserv in the third quarter worth about $172,993,000. Kovitz Investment Group Partners LLC boosted its position in Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider's stock worth $109,700,000 after acquiring an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider's stock valued at $108,488,000 after acquiring an additional 558,774 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.