Citigroup Raises Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its target price hoisted by analysts at Citigroup from $171.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s target price points to a potential upside of 17.42% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets boosted their price target on Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen raised their price objective on Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI reiterated an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a research note on Tuesday, March 26th. Finally, B. Riley increased their target price on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Trading Up 0.7 %

Shares of NYSE:FI opened at $153.29 on Wednesday. The stock’s 50-day simple moving average is $152.39 and its two-hundred day simple moving average is $137.45. The stock has a market capitalization of $90.25 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.27 and a beta of 0.91. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 EPS. Analysts expect that Fiserv will post 8.63 EPS for the current year.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 111,575 shares of company stock valued at $17,022,387. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Fiserv during the third quarter valued at approximately $5,705,241,000. Price T Rowe Associates Inc. MD bought a new position in Fiserv in the 4th quarter valued at $5,885,279,000. Capital World Investors bought a new position in Fiserv in the 4th quarter valued at $2,329,623,000. Massachusetts Financial Services Co. MA purchased a new stake in Fiserv in the fourth quarter worth $960,592,000. Finally, Veritas Asset Management LLP bought a new stake in shares of Fiserv during the fourth quarter worth $927,298,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Company Profile

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.