Oppenheimer Issues Positive Forecast for Fiserv (NYSE:FI) Stock Price

Fiserv (NYSE:FI) had its price objective increased by research analysts at Oppenheimer from $214.00 to $239.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target suggests a potential upside of 16.82% from the stock’s previous close.

Several other equities analysts have also recently commented on FI. BTIG Research assumed coverage on shares of Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target on the stock. Barclays raised their target price on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets raised their price target on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their target price on Fiserv from $220.00 to $258.00 and gave the company an “overweight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $222.88.

Fiserv Stock Performance

FI traded up $2.82 on Thursday, reaching $204.58. The stock had a trading volume of 667,593 shares, compared to its average volume of 2,532,685. The company has a market cap of $116.39 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. Fiserv has a 12-month low of $131.41 and a 12-month high of $223.23. The business’s 50-day moving average price is $206.77 and its two-hundred day moving average price is $178.31. 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 (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. Sell-side analysts forecast that Fiserv will post 8.77 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 235,821 shares of company stock valued at $44,299,745 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fiserv

Several institutional investors have recently modified their holdings of the company. Sanders Capital LLC bought a new stake in shares of Fiserv during the third quarter valued at approximately $764,543,000. FMR LLC grew its position in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Maj Invest Holding A S bought a new stake in Fiserv in the third quarter worth $172,993,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after acquiring an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after buying an additional 558,774 shares during the period. 90.98% of the stock is currently owned by institutional investors.

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.