Fiserv (NYSE:FI) Given New $240.00 Price Target at Wells Fargo & Company

Fiserv (NYSE:FI) had its price target hoisted by Wells Fargo & Company from $220.00 to $240.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

FI has been the topic of several other reports. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Mizuho upped their price target on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer raised their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Fiserv from $225.00 to $238.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Fiserv Stock Up 1.0 %

FI stock opened at $206.21 on Thursday. Fiserv has a one year low of $136.48 and a one year high of $223.23. The firm has a market cap of $117.32 billion, a PE ratio of 39.66, a PEG ratio of 1.32 and a beta of 0.94. The firm’s 50 day moving average price is $209.55 and its 200-day moving average price is $186.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, equities research analysts anticipate that Fiserv will post 8.77 EPS for the current year.

Insider Transactions at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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 of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were 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 of the company’s stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fiserv

Large investors have recently modified their holdings of the company. Ballentine Partners LLC grew its position in Fiserv by 1.0% during the 4th quarter. Ballentine Partners LLC now owns 7,990 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 76 shares during the last quarter. Addenda Capital Inc. increased its position in Fiserv by 5.4% in the 4th quarter. Addenda Capital Inc. now owns 75,355 shares of the business services provider’s stock valued at $15,479,000 after acquiring an additional 3,879 shares during the period. Abacus Wealth Partners LLC raised its stake in Fiserv by 12.3% during the 4th quarter. Abacus Wealth Partners LLC now owns 1,329 shares of the business services provider’s stock valued at $273,000 after acquiring an additional 146 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in Fiserv during the 4th quarter worth approximately $215,000. Finally, Sky Investment Group LLC increased its holdings in shares of Fiserv by 79.4% in the fourth quarter. Sky Investment Group LLC now owns 4,108 shares of the business services provider’s stock valued at $844,000 after purchasing an additional 1,818 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

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.