Wells Fargo & Company Raises Fiserv (NYSE:FI) Price Target to $220.00

Fiserv (NYSE:FI) had its price objective lifted by Wells Fargo & Company from $215.00 to $220.00 in a report published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup increased their target price on Fiserv from $187.00 to $226.00 in a research report on Tuesday. BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target for the company. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Four research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.38.

Fiserv Trading Down 1.9 %

Fiserv stock opened at $199.52 on Wednesday. The stock has a 50-day moving average price of $180.04 and a 200 day moving average price of $162.37. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a 52 week low of $111.53 and a 52 week high of $204.50. The stock has a market cap of $116.74 billion, a PE ratio of 37.29, a P/E/G ratio of 1.44 and a beta of 0.93.

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

Insider Buying and Selling

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Doyle Simons sold 40,000 shares of the stock in a transaction 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 transaction, the director now directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,890 shares of company stock valued at $40,934,217 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

Large investors have recently bought and sold shares of the business. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv in the 1st quarter valued at about $25,000. Family Firm Inc. acquired a new position in Fiserv during the 2nd quarter valued at about $31,000. Clean Yield Group boosted its stake in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Fiserv during the 1st quarter worth approximately $32,000. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.