The Goldman Sachs Group Boosts Fiserv (NYSE:FI) Price Target to $231.00

Fiserv (NYSE:FI) had its target price lifted by equities research analysts at The Goldman Sachs Group from $208.00 to $231.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 5.97% from the company’s previous close.

Other research analysts have also issued reports about the stock. KeyCorp boosted their target price 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. Robert W. Baird lifted their target price on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Mizuho upped their price objective on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup increased their target price on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Finally, Susquehanna increased their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.25.

Fiserv Stock Down 0.2 %

FI stock traded down $0.52 during mid-day trading on Tuesday, hitting $217.99. 305,236 shares of the company were exchanged, compared to its average volume of 2,471,477. The company has a market capitalization of $124.02 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The firm has a fifty day simple moving average of $200.25 and a 200 day simple moving average of $173.36. 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 has a twelve month low of $129.60 and a twelve month high of $223.23.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share 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 business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that Fiserv will post 8.77 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FI. Clean Yield Group increased its position in shares of Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Fiserv in the 2nd quarter worth approximately $31,000. Kennebec Savings Bank bought a new stake in Fiserv during the 3rd quarter worth approximately $40,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Fiserv during the 3rd quarter valued at $44,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.