Fiserv (NYSE:FI) Hits New 52-Week High on Analyst Upgrade

Fiserv, Inc. (NYSE:FI)’s share price hit a new 52-week high on Tuesday after BMO Capital Markets raised their price target on the stock from $222.00 to $232.00. BMO Capital Markets currently has an outperform rating on the stock. Fiserv traded as high as $216.34 and last traded at $216.09, with a volume of 722184 shares trading hands. The stock had previously closed at $212.74.

A number of other equities research analysts also recently weighed in on FI. William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Robert W. Baird lifted their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their target price on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.52.

Insider Buying and Selling at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred 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 sale, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 40.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,711 shares of company stock worth $47,477,232. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Hedge funds have recently bought and sold shares of the company. Quent Capital LLC boosted its stake in shares of Fiserv by 5.9% during the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after acquiring an additional 68 shares during the period. Acadian Asset Management LLC grew its stake in Fiserv by 377.3% in the 1st quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after buying an additional 44,776 shares during the last quarter. Covestor Ltd grew its stake in Fiserv by 23.0% in the 1st quarter. Covestor Ltd now owns 862 shares of the business services provider’s stock valued at $138,000 after buying an additional 161 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Fiserv by 45.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 55,109 shares of the business services provider’s stock valued at $8,808,000 after acquiring an additional 17,280 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in Fiserv by 186.5% during the first quarter. UniSuper Management Pty Ltd now owns 14,330 shares of the business services provider’s stock worth $2,290,000 after acquiring an additional 9,328 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Trading Up 1.6 %

The company has a market cap of $123.01 billion, a P/E ratio of 40.92, a PEG ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average price of $192.16 and a 200-day moving average price of $169.12.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the company earned $1.96 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.