Fiserv (NYSE:FI) Given New $233.00 Price Target at Citigroup

Fiserv (NYSE:FI) had its target price hoisted by Citigroup from $230.00 to $233.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on the stock. Wells Fargo & Company increased their target price on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stephens reissued an “overweight” rating and issued a $255.00 target price on shares of Fiserv in a research note on Thursday, January 2nd. The Goldman Sachs Group raised their price target on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Barclays boosted their price objective on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Fiserv Stock Up 1.0 %

NYSE:FI opened at $206.21 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv has a 12-month low of $136.48 and a 12-month high of $223.23. The stock’s fifty day simple moving average is $209.55 and its 200-day simple moving average is $186.20. The firm has a market capitalization of $117.32 billion, a P/E ratio of 39.66, a P/E/G ratio of 1.32 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its earnings results 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. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 EPS. Equities research analysts expect that Fiserv will post 8.77 earnings per share for the current year.

Insider Activity

In other news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Fiserv

A number of large investors have recently added to or reduced their stakes in the business. Sanders Capital LLC acquired a new stake in Fiserv during the 3rd quarter worth approximately $764,543,000. FMR LLC increased its position in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Fiserv during the third quarter worth $172,993,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after buying an additional 561,377 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after acquiring an additional 558,774 shares during the period. Institutional investors 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.