Fiserv (NYSE:FI) Price Target Cut to $194.00 by Analysts at The Goldman Sachs Group

Fiserv (NYSE:FI) had its target price cut by equities researchers at The Goldman Sachs Group from $223.00 to $194.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 14.77% from the stock’s previous close.

A number of other research analysts have also commented on FI. Mizuho set a $200.00 price target on Fiserv in a report on Thursday. StockNews.com initiated coverage on Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. JPMorgan Chase & Co. lowered their price target on Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday. Susquehanna lowered their target price on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $225.80.

Fiserv Stock Performance

Shares of FI stock traded up $2.37 during trading hours on Monday, reaching $169.03. The stock had a trading volume of 2,529,701 shares, compared to its average volume of 2,985,013. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv has a twelve month low of $146.25 and a twelve month high of $238.59. The firm has a 50-day simple moving average of $202.24 and a 200-day simple moving average of $210.41. The firm has a market capitalization of $93.72 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. As a group, equities analysts forecast that Fiserv will post 10.23 earnings per share for the current year.

Fiserv declared that its board has approved a share buyback 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. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vega Investment Solutions acquired a new position in Fiserv during the fourth quarter worth $25,000. Activest Wealth Management raised its stake in Fiserv by 3,150.0% during the first quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock worth $29,000 after acquiring an additional 126 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Fiserv during the fourth quarter worth $28,000. Marshall Investment Management LLC acquired a new position in Fiserv during the fourth quarter worth $29,000. Finally, Valley National Advisers Inc. acquired a new position in Fiserv during the fourth quarter worth $29,000. 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.