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

Fiserv (NYSE:FI) had its price objective increased by Royal Bank of Canada from $183.00 to $224.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays boosted their price target on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. KeyCorp boosted their price target on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price target on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday. Finally, UBS Group boosted their price target on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.38.

Fiserv Price Performance

Shares of NYSE FI opened at $199.52 on Wednesday. Fiserv has a fifty-two week low of $111.53 and a fifty-two week high of $204.50. The firm’s 50-day simple moving average is $180.04 and its 200 day simple moving average is $162.37. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a market cap of $116.74 billion, a P/E ratio of 37.29, a P/E/G ratio of 1.44 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Fiserv will post 8.74 EPS for the current year.

Insider Activity at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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 $15,386,074.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,890 shares of company stock valued at $40,934,217. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

A number of large investors have recently bought and sold shares of FI. Norden Group LLC bought a new stake in shares of Fiserv during the first quarter worth $2,359,000. ORG Partners LLC lifted its stake in Fiserv by 3,016.0% in the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after buying an additional 3,197 shares during the period. ZRC Wealth Management LLC acquired a new position in Fiserv in the first quarter valued at about $32,000. Park Place Capital Corp raised its position in shares of Fiserv by 66.3% during the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 2,794 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Fiserv by 377.3% during the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock worth $9,047,000 after purchasing an additional 44,776 shares during the period. 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.