Fiserv (NYSE:FI) Price Target Cut to $230.00 by Analysts at Barclays

Fiserv (NYSE:FI) had its price objective reduced by analysts at Barclays from $265.00 to $230.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential upside of 24.14% from the stock’s current price.

Several other analysts have also commented on FI. Monness Crespi & Hardt lowered shares of Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price for the company. in a research note on Wednesday, April 9th. Redburn Atlantic reissued a “sell” rating and set a $150.00 price objective on shares of Fiserv in a research note on Thursday, April 17th. Royal Bank of Canada boosted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Susquehanna decreased their price target on Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company upped their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.00.

Fiserv Stock Performance

Shares of NYSE FI opened at $185.28 on Monday. Fiserv has a 1 year low of $146.25 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a fifty day moving average price of $213.93 and a two-hundred day moving average price of $211.84. The firm has a market cap of $103.49 billion, a P/E ratio of 34.37, a PEG ratio of 1.52 and a beta of 0.91.

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

Fiserv announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’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 value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

Hedge funds have recently modified their holdings of the business. Pacific Point Advisors LLC raised its stake in Fiserv by 8.7% during the 1st quarter. Pacific Point Advisors LLC now owns 6,717 shares of the business services provider’s stock valued at $1,483,000 after purchasing an additional 535 shares during the last quarter. Callan Capital LLC increased its holdings in shares of Fiserv by 20.0% during the 1st quarter. Callan Capital LLC now owns 2,074 shares of the business services provider’s stock worth $458,000 after purchasing an additional 345 shares during the period. TD Private Client Wealth LLC raised its position in shares of Fiserv by 354.2% during the first quarter. TD Private Client Wealth LLC now owns 20,167 shares of the business services provider’s stock valued at $4,453,000 after buying an additional 15,727 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Fiserv by 5.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,896,313 shares of the business services provider’s stock valued at $418,763,000 after buying an additional 100,793 shares during the last quarter. Finally, Drake & Associates LLC lifted its stake in shares of Fiserv by 18.2% in the first quarter. Drake & Associates LLC now owns 4,606 shares of the business services provider’s stock valued at $1,017,000 after buying an additional 710 shares during the period. 90.98% of the stock is 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.