Fiserv (NYSE:FI) Price Target Raised to $224.00 at Royal Bank of Canada

Fiserv (NYSE:FI - Get Free Report) had its price target hoisted by equities researchers at Royal Bank of Canada from $183.00 to $224.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Royal Bank of Canada's price objective indicates a potential upside of 10.69% from the stock's current price.

A number of other research analysts have also recently weighed in on FI. The Goldman Sachs Group lifted their price objective on shares of Fiserv from $188.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday. Susquehanna lifted their price target on Fiserv from $190.00 to $230.00 and gave the company a "positive" rating in a research note on Friday, October 18th. TD Cowen increased their price target on Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on Fiserv from $195.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, KeyCorp increased their target price on Fiserv from $180.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday. Four 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.92.

Fiserv Stock Performance

FI traded up $2.69 during midday trading on Wednesday, hitting $202.36. 3,524,436 shares of the company were exchanged, compared to its average volume of 2,484,786. The company's 50 day simple moving average is $179.29 and its 200 day simple moving average is $162.09. The firm has a market capitalization of $118.40 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Fiserv has a 1-year low of $111.53 and a 1-year high of $203.00. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

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 for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same period last year, the business earned $1.96 earnings per share. Fiserv's quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Fiserv will post 8.74 earnings per share for the current year.

Insider Buying and Selling

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares of the company's stock, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares of the company's stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company's stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,890 shares of company stock worth $32,855,417. Company insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On Fiserv

Hedge funds have recently added to or reduced their stakes in the business. Waypoint Capital Advisors LLC grew its position in shares of Fiserv by 1.7% during the third quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider's stock worth $560,000 after buying an additional 51 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock worth $34,000 after acquiring an additional 57 shares in the last quarter. Atwood & Palmer Inc. grew its holdings in Fiserv by 6.6% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,066 shares of the business services provider's stock worth $192,000 after acquiring an additional 66 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Fiserv by 5.9% in the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider's stock valued at $194,000 after purchasing an additional 68 shares in the last quarter. Finally, Fielder Capital Group LLC lifted its position in shares of Fiserv by 3.3% during the 2nd quarter. Fielder Capital Group LLC now owns 2,130 shares of the business services provider's stock worth $317,000 after purchasing an additional 68 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.