Wells Fargo & Company Issues Positive Forecast for Fiserv (NYSE:FI) Stock Price

Fiserv (NYSE:FI - Get Free Report) had its price target raised by equities researchers at Wells Fargo & Company from $220.00 to $240.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Wells Fargo & Company's price target would indicate a potential upside of 16.39% from the company's previous close.

A number of other analysts also recently weighed in on FI. Robert W. Baird boosted their target price on Fiserv from $186.00 to $200.00 and gave the stock an "outperform" rating in a research report on Monday, September 23rd. TD Cowen boosted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on shares of Fiserv from $183.00 to $224.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Tigress Financial lifted their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $224.00.

Fiserv Price Performance

FI stock traded up $1.96 during midday trading on Thursday, reaching $206.21. The company had a trading volume of 2,530,945 shares, compared to its average volume of 2,417,465. The firm has a 50-day moving average price of $209.55 and a 200-day moving average price of $186.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $117.32 billion, a P/E ratio of 39.66, a P/E/G ratio of 1.32 and a beta of 0.94. Fiserv has a 1 year low of $136.48 and a 1 year high of $223.23.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 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 analysts' expectations of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Fiserv will post 8.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Kenneth Best sold 20,821 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now owns 33,235 shares of the company's stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

Institutional investors and hedge funds have recently bought and sold shares of the company. Soros Capital Management LLC raised its stake in shares of Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider's stock worth $9,844,000 after purchasing an additional 22,884 shares during the last quarter. Czech National Bank increased its holdings in Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider's stock worth $25,339,000 after buying an additional 6,072 shares in the last quarter. Chiron Investment Management LLC purchased a new position in Fiserv in the 3rd quarter worth about $4,709,000. Cardano Risk Management B.V. bought a new position in Fiserv during the 4th quarter valued at about $97,254,000. Finally, Maxwell Wealth Strategies Inc. boosted its holdings in shares of Fiserv by 23.6% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider's stock valued at $2,696,000 after acquiring an additional 2,869 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

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.