Wells Fargo & Company Forecasts Strong Price Appreciation for Fiserv (NYSE:FI) Stock

Fiserv (NYSE:FI) had its price target hoisted by Wells Fargo & Company from $220.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.02% from the company’s current price.

Several other brokerages also recently commented on FI. KeyCorp upped their price objective on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. TD Cowen raised their price target on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their price target on shares of Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Fiserv Stock Up 1.2 %

FI opened at $208.67 on Thursday. The company has a market cap of $118.71 billion, a P/E ratio of 40.13, a P/E/G ratio of 1.32 and a beta of 0.94. Fiserv has a 12 month low of $136.93 and a 12 month high of $223.23. The business’s 50-day moving average price is $209.49 and its 200-day moving average price is $186.34. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

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 analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Fiserv will post 8.77 EPS for the current year.

Insider Buying and Selling at Fiserv

In related news, 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 completion of the sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This trade represents a 47.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

Large investors have recently made changes to their positions in the stock. Sanders Capital LLC purchased a new stake in Fiserv in the third quarter worth approximately $764,543,000. FMR LLC lifted its holdings in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the period. Maj Invest Holding A S purchased a new position in shares of Fiserv in the 3rd quarter worth $172,993,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Fiserv by 788.7% in 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 acquiring an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC increased its position in Fiserv by 1,238.6% during 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 last quarter. 90.98% of the stock is currently owned by institutional investors.

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.