Royal Bank of Canada Boosts Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price objective increased by stock analysts at Royal Bank of Canada from $158.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.11% from the company’s current price.

FI has been the topic of a number of other research reports. Evercore ISI reissued an “outperform” rating and issued a $185.00 price objective on shares of Fiserv in a research report on Tuesday, March 26th. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research report on Thursday, January 11th. Susquehanna upped their price target on shares of Fiserv from $175.00 to $180.00 and gave the company a “positive” rating in a research note on Monday, March 25th. Truist Financial increased their price objective on shares of Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Finally, Mizuho reissued a “buy” rating and issued a $156.00 target price on shares of Fiserv in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $161.46.

Fiserv Price Performance

Shares of FI stock traded down $2.99 during mid-day trading on Wednesday, reaching $152.40. The company’s stock had a trading volume of 940,687 shares, compared to its average volume of 2,530,884. The company has a market cap of $89.73 billion, a P/E ratio of 30.52, a PEG ratio of 1.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50-day moving average is $152.14 and its two-hundred day moving average is $137.23. Fiserv has a 1-year low of $109.11 and a 1-year high of $159.99.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. On average, research analysts predict that Fiserv will post 8.63 earnings per share for the current year.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fiserv

A number of large investors have recently bought and sold shares of FI. Hollencrest Capital Management raised its position in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. West Oak Capital LLC purchased a new stake in Fiserv during the fourth quarter worth $27,000. Halpern Financial Inc. purchased a new stake in Fiserv during the fourth quarter worth $27,000. GW&K Investment Management LLC purchased a new stake in Fiserv during the fourth quarter worth $27,000. Finally, RE Dickinson Investment Advisors LLC purchased a new stake in Fiserv during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.