Fiserv, Inc. (NYSE:FI) Receives $243.64 Average Target Price from Analysts

Fiserv, Inc. (NYSE:FI) has been assigned a consensus rating of “Buy” from the twenty-four analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $243.64.

A number of research firms recently weighed in on FI. Stephens increased their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Susquehanna boosted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th.

Fiserv Trading Down 8.4 %

NYSE:FI opened at $198.77 on Friday. The company has a market cap of $111.57 billion, a PE ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91. The business’s 50 day moving average is $222.85 and its two-hundred day moving average is $209.66. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv has a 52 week low of $145.98 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, analysts predict that Fiserv will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

Several large investors have recently made changes to their positions in FI. Norges Bank bought a new position in Fiserv in the 4th quarter worth $1,406,452,000. Raymond James Financial Inc. bought a new position in shares of Fiserv in the fourth quarter worth about $614,982,000. Kovitz Investment Group Partners LLC lifted its position in shares of Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. Finally, FMR LLC grew its holdings in Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after buying an additional 2,126,419 shares during the last quarter. 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.