Fiserv (NYSE:FI) Price Target Cut to $165.00 by Analysts at Mizuho

Fiserv (NYSE:FI) had its price objective cut by Mizuho from $194.00 to $165.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. The Goldman Sachs Group decreased their price objective on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a report on Monday, May 19th. UBS Group reduced their price target on shares of Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 25th. Keefe, Bruyette & Woods reduced their price target on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Finally, Citigroup reduced their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $207.08.

Fiserv Stock Up 1.6%

Fiserv stock opened at $142.24 on Tuesday. The firm has a market cap of $77.32 billion, a PE ratio of 23.75, a P/E/G ratio of 0.91 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50 day moving average price is $163.97 and its two-hundred day moving average price is $194.02. Fiserv has a twelve month low of $128.22 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the business earned $2.13 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts predict that Fiserv will post 10.23 EPS for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider owned 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president directly owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Institutional Trading of Fiserv

A number of hedge funds and other institutional investors have recently made changes to their positions in FI. Cidel Asset Management Inc. increased its holdings in Fiserv by 675.2% during the second quarter. Cidel Asset Management Inc. now owns 10,791 shares of the business services provider’s stock worth $1,860,000 after buying an additional 9,399 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Fiserv by 31.0% during the second quarter. Chicago Partners Investment Group LLC now owns 2,005 shares of the business services provider’s stock worth $346,000 after buying an additional 474 shares during the last quarter. Palmer Knight Co increased its holdings in Fiserv by 5.1% during the second quarter. Palmer Knight Co now owns 50,186 shares of the business services provider’s stock worth $8,653,000 after buying an additional 2,445 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Fiserv by 249.9% during the second quarter. Stratos Wealth Partners LTD. now owns 15,793 shares of the business services provider’s stock worth $2,723,000 after buying an additional 11,279 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in Fiserv by 3.5% during the second quarter. Angeles Wealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $576,000 after buying an additional 114 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.