Fiserv (NYSE:FI) Hits New 12-Month High After Strong Earnings

Shares of Fiserv, Inc. (NYSE:FI) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $200.00 and last traded at $200.00, with a volume of 1270 shares traded. The stock had previously closed at $199.67.

The business services provider reported $2.30 earnings per share for the quarter, topping 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 firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $1.96 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FI shares. UBS Group raised their price target on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen lifted their price target on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday. BMO Capital Markets lifted their price target on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird lifted their price target on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $202.08.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’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 sale, the chief operating officer now owns 163,699 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the company’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 in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 227,890 shares of company stock valued at $40,934,217. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

Several institutional investors and hedge funds have recently added to or reduced their stakes in FI. Bessemer Group Inc. raised its position in shares of Fiserv by 67.2% in the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after purchasing an additional 1,306,901 shares during the period. Capital World Investors raised its position in shares of Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the period. Maj Invest Holding A S bought a new position in shares of Fiserv in the third quarter valued at about $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv in the second quarter valued at about $105,031,000. Finally, American Century Companies Inc. raised its position in shares of Fiserv by 1,642.5% in the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after purchasing an additional 471,531 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

The company has a market capitalization of $118.93 billion, a P/E ratio of 38.00, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The company’s 50-day moving average price is $179.29 and its two-hundred day moving average price is $162.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

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.