Royal Bank of Canada Increases Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price target upped by equities researchers at Royal Bank of Canada from $158.00 to $180.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 17.42% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Susquehanna increased their price objective on Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday, March 25th. Robert W. Baird increased their price objective on Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their target price on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 1st. B. Riley upped their target price on Fiserv from $176.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp upped their target price on Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Price Performance

Fiserv stock opened at $153.29 on Wednesday. Fiserv has a 12 month low of $109.11 and a 12 month high of $159.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The business has a 50 day simple moving average of $152.39 and a 200-day simple moving average of $137.45. The stock has a market capitalization of $90.25 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. Fiserv’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. Equities analysts predict that Fiserv will post 8.63 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 63,646 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,209,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fiserv

Several large investors have recently added to or reduced their stakes in FI. Piscataqua Savings Bank purchased a new position in shares of Fiserv in the 4th quarter worth about $67,000. GHP Investment Advisors Inc. purchased a new position in shares of Fiserv in the 4th quarter worth about $78,000. Liberty Capital Management Inc. purchased a new position in shares of Fiserv in the 4th quarter worth about $7,071,000. Birch Hill Investment Advisors LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $84,583,000. Finally, Graypoint LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $3,732,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.