Keefe, Bruyette & Woods Lowers Fiserv (NYSE:FI) Price Target to $240.00

Fiserv (NYSE:FI) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $260.00 to $240.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 35.17% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday. Barclays upped their price target on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $260.00 in a research note on Wednesday, April 2nd. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Susquehanna lowered their price target on Fiserv from $270.00 to $250.00 and set a “positive” rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.33.

Fiserv Stock Up 0.4 %

Shares of NYSE:FI opened at $177.55 on Friday. The firm has a market capitalization of $99.17 billion, a P/E ratio of 32.94, a P/E/G ratio of 1.52 and a beta of 0.91. 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 50 day moving average price of $216.08 and a 200-day moving average price of $211.95. Fiserv has a 52-week low of $146.25 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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. The business 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%. As a group, equities research analysts anticipate that Fiserv will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a share buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several institutional investors and hedge funds have recently bought and sold shares of FI. Geode Capital Management LLC lifted its position in shares of Fiserv by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock valued at $2,435,280,000 after buying an additional 218,833 shares in the last quarter. FMR LLC raised its stake in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock valued at $1,649,705,000 after purchasing an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Fiserv by 5.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock valued at $1,424,907,000 after purchasing an additional 340,938 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Fiserv in the fourth quarter worth approximately $1,406,452,000. 90.98% of the stock is currently owned by hedge funds and other 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.