Fiserv (NYSE:FI) Reaches New 52-Week High After Better-Than-Expected Earnings

Fiserv, Inc. (NYSE:FI)’s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $225.76 and last traded at $228.72, with a volume of 314250 shares. The stock had previously closed at $214.22.

The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.10% and a net margin of 15.22%.

Wall Street Analyst Weigh In

FI has been the subject of a number of recent research reports. UBS Group boosted their price target on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer boosted their price objective on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. KeyCorp boosted their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.13.

Insider Transactions at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestmark Advisory Solutions Inc. bought a new position in Fiserv in the 4th quarter valued at $281,000. Washington Trust Advisors Inc. grew its position in Fiserv by 283.9% in the 4th quarter. Washington Trust Advisors Inc. now owns 952 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 704 shares during the last quarter. Inceptionr LLC bought a new position in Fiserv in the 4th quarter valued at $723,000. Raymond James Financial Inc. bought a new position in Fiserv in the 4th quarter valued at $614,982,000. Finally, Cullen Frost Bankers Inc. grew its position in Fiserv by 655.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 19,475 shares of the business services provider’s stock valued at $4,001,000 after acquiring an additional 16,897 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.7 %

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $208.61 and a 200-day moving average price of $192.51. The firm has a market cap of $131.45 billion, a P/E ratio of 44.43, a P/E/G ratio of 1.42 and a beta of 0.94.

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.