JPMorgan Chase & Co. Raises Fiserv (NYSE:FI) Price Target to $227.00

Fiserv (NYSE:FI) had its target price boosted by JPMorgan Chase & Co. from $199.00 to $227.00 in a research note issued to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

FI has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Oppenheimer initiated coverage on shares of Fiserv in a research report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 target price for the company. Citigroup lifted their price target on shares of Fiserv from $187.00 to $226.00 in a report on Tuesday. UBS Group boosted their target price on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Finally, William Blair raised shares of Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $204.38.

Fiserv Trading Down 1.9 %

NYSE FI opened at $199.52 on Wednesday. Fiserv has a 12 month low of $111.53 and a 12 month high of $204.50. 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 company has a market capitalization of $116.74 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The firm’s fifty day moving average price is $180.04 and its 200 day moving average price is $162.37.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company 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 firm posted $1.96 EPS. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Fiserv will post 8.74 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value 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 $4,764,211.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,890 shares of company stock worth $40,934,217. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

A number of large investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Fiserv by 67.2% during the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after purchasing an additional 1,306,901 shares in the last quarter. Capital World Investors raised its stake in Fiserv by 7.4% in the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after acquiring an additional 1,303,078 shares during the period. Maj Invest Holding A S bought a new stake in Fiserv in the 3rd quarter valued at $172,993,000. Manning & Napier Advisors LLC bought a new stake in Fiserv in the 2nd quarter valued at $105,031,000. Finally, American Century Companies Inc. increased its position in Fiserv by 1,642.5% during the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock worth $74,556,000 after buying an additional 471,531 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.