Fiserv (NYSE:FI) Price Target Cut to $165.00 by Analysts at Jefferies Financial Group

Fiserv (NYSE:FI) had its price objective decreased by equities research analysts at Jefferies Financial Group from $180.00 to $165.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 2.68% from the stock’s current price.

FI has been the topic of a number of other research reports. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. KeyCorp increased their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group dropped their price objective on Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Redburn Atlantic reissued a “sell” rating and set a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Finally, Mizuho set a $200.00 price objective on Fiserv in a report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Fiserv Stock Up 0.3%

FI stock opened at $160.69 on Tuesday. 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 company has a market capitalization of $89.09 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.52 and a beta of 0.97. Fiserv has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The stock has a fifty day moving average of $193.59 and a 200-day moving average of $207.93.

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

Fiserv announced that its board has authorized a stock repurchase 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several institutional investors have recently modified their holdings of FI. Nuveen LLC bought a new position in shares of Fiserv during the 1st quarter valued at about $1,722,584,000. Norges Bank bought a new position in shares of Fiserv during the 4th quarter valued at about $1,406,452,000. JPMorgan Chase & Co. increased its position in shares of Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock valued at $3,390,793,000 after purchasing an additional 6,691,703 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Fiserv by 21,681.0% during the 1st quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock valued at $843,991,000 after purchasing an additional 3,804,358 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Fiserv during the 4th quarter worth approximately $614,982,000. 90.98% of the stock is currently owned by 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.