Fiserv (NYSE:FI) Price Target Cut to $225.00 by Analysts at Robert W. Baird

Fiserv (NYSE:FI) had its target price decreased by Robert W. Baird from $250.00 to $225.00 in a research report report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

FI has been the subject of a number of other reports. Piper Sandler set a $218.00 target price on shares of Fiserv in a report on Friday, April 25th. Morgan Stanley reissued an “overweight” rating and issued a $268.00 target price (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. Susquehanna dropped their price objective on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Barclays dropped their price objective on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Mizuho set a $200.00 price objective on shares of Fiserv in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.23.

Fiserv Trading Down 1.4%

FI stock opened at $161.19 on Wednesday. The firm has a fifty day moving average price of $178.99 and a 200 day moving average price of $202.49. Fiserv has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $89.37 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90.

Fiserv (NYSE:FI) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the firm posted $1.88 earnings per share. Fiserv’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Fiserv will post 10.23 earnings per share for the current fiscal year.

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

Insider Activity

In related news, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the company’s 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 completion of the sale, the insider now directly owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Institutional Trading of Fiserv

A number of hedge funds have recently added to or reduced their stakes in the business. Vega Investment Solutions bought a new position in Fiserv in the fourth quarter worth about $25,000. Activest Wealth Management raised its holdings in Fiserv by 3,150.0% in the first quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock worth $29,000 after purchasing an additional 126 shares in the last quarter. Park Square Financial Group LLC bought a new position in Fiserv in the fourth quarter worth about $28,000. Marshall Investment Management LLC bought a new position in Fiserv in the fourth quarter worth about $29,000. Finally, Abound Financial LLC bought a new position in Fiserv in the first quarter worth about $38,000. 90.98% of the stock is 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.