Fiserv (NYSE:FI) Now Covered by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Fiserv (NYSE:FI) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $181.00 target price on the business services provider’s stock.

FI has been the subject of a number of other research reports. Tigress Financial raised their target price on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Redburn Atlantic reaffirmed a “sell” rating and set a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Wednesday, April 9th. UBS Group cut their price target on Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group cut their price target on Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Two 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Stock Performance

Shares of FI stock opened at $161.87 on Monday. The firm has a market capitalization of $89.75 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The business has a fifty day moving average of $189.93 and a 200 day moving average of $206.78. Fiserv has a 1 year low of $146.25 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last issued 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. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. As a group, research analysts expect that Fiserv will post 10.23 earnings per share for the current year.

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

Insider Buying and Selling

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 53,385 shares in the company, valued at $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. 0.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Fiserv by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock valued at $11,059,063,000 after buying an additional 535,407 shares during the period. JPMorgan Chase & Co. raised 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 buying an additional 6,691,703 shares during the period. Geode Capital Management LLC raised 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 during the period. FMR LLC raised its position in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after buying an additional 2,126,419 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Fiserv by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock valued at $1,829,451,000 after buying an additional 253,544 shares during the period. 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.