Fiserv (NYSE:FI) Reaches New 1-Year High on Strong Earnings

Fiserv, Inc. (NYSE:FI - Get Free Report) shares reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $200.00 and last traded at $200.00, with a volume of 1270 shares traded. The stock had previously closed at $199.67.

The business services provider reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $4.90 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 earnings per share.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FI shares. TD Cowen raised their price target on shares of Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Fiserv from $188.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. UBS Group lifted their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Stephens lifted their target price on shares of Fiserv from $170.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and an average price target of $199.92.

Insider Activity

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now directly owns 28,323 shares of the company's stock, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John Gibbons sold 18,890 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,890 shares of company stock valued at $32,855,417 over the last three months. Insiders own 0.75% of the company's stock.

Institutional Trading of Fiserv

Several institutional investors have recently made changes to their positions in the business. Lake Street Advisors Group LLC boosted its position in shares of Fiserv by 1.5% during the third quarter. Lake Street Advisors Group LLC now owns 6,494 shares of the business services provider's stock worth $1,167,000 after acquiring an additional 95 shares during the last quarter. Financial Partners Group LLC bought a new position in shares of Fiserv during the third quarter worth $227,000. Busey Bank boosted its position in shares of Fiserv by 0.5% during the third quarter. Busey Bank now owns 99,941 shares of the business services provider's stock worth $17,954,000 after acquiring an additional 488 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Fiserv by 26.0% during the third quarter. Moody Lynn & Lieberson LLC now owns 4,385 shares of the business services provider's stock worth $788,000 after acquiring an additional 905 shares during the last quarter. Finally, Cross Staff Investments Inc bought a new position in shares of Fiserv during the third quarter worth $216,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The stock's 50-day moving average is $179.29 and its two-hundred day moving average is $162.09. The stock has a market cap of $118.40 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93.

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.