Fiserv (NYSE:FI) Given New $175.00 Price Target at TD Cowen

Fiserv (NYSE:FI) had its price target hoisted by TD Cowen from $167.00 to $175.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other analysts have also issued reports on FI. UBS Group increased their target price on Fiserv from $170.00 to $185.00 and gave the company a buy rating in a report on Wednesday. B. Riley upped their price target on Fiserv from $176.00 to $180.00 and gave the company a buy rating in a research report on Wednesday. Stephens restated an equal weight rating and set a $165.00 price objective on shares of Fiserv in a research report on Wednesday. Robert W. Baird upped their target price on Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Fiserv from $163.00 to $168.00 and gave the stock an outperform rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $164.33.

Fiserv Stock Performance

Shares of NYSE FI opened at $152.25 on Wednesday. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99. The stock has a market capitalization of $89.64 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.22 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $152.28 and its 200 day simple moving average is $137.34.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Fiserv will post 8.63 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FI. DAVENPORT & Co LLC grew its position in Fiserv by 18.0% during the third quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock worth $1,483,000 after buying an additional 2,002 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Fiserv by 76.4% during the third quarter. Meridian Wealth Management LLC now owns 11,612 shares of the business services provider’s stock valued at $1,312,000 after purchasing an additional 5,031 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Fiserv by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock valued at $1,151,000 after purchasing an additional 1,859 shares in the last quarter. Private Trust Co. NA lifted its position in Fiserv by 60.4% in the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after purchasing an additional 821 shares during the period. Finally, UMB Bank n.a. lifted its position in Fiserv by 1.0% in the third quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock worth $1,742,000 after purchasing an additional 147 shares during the period. 90.98% of the stock is 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.