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

Fiserv (NYSE:FI) had its price target boosted by Royal Bank of Canada from $158.00 to $180.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other equities research analysts also recently issued reports on FI. Robert W. Baird boosted their price objective on Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a report on Wednesday. Barclays boosted their price objective on Fiserv from $165.00 to $185.00 and gave the company an overweight rating in a report on Monday, April 1st. Jefferies Financial Group boosted their price objective on Fiserv from $150.00 to $160.00 and gave the company a hold rating in a report on Monday, March 25th. Morgan Stanley boosted their price objective on Fiserv from $133.00 to $142.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets boosted their price objective on Fiserv from $163.00 to $168.00 and gave the company an outperform rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of Moderate Buy and a consensus price target of $164.33.

Fiserv Price Performance

NYSE:FI opened at $155.89 on Wednesday. Fiserv has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $91.21 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.24 and a beta of 0.91. The stock’s fifty day moving average is $152.54 and its two-hundred day moving average is $137.74.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts expect that Fiserv will post 8.69 EPS for the current year.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was 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 directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock valued at $5,705,241,000 after purchasing an additional 789,232 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Fiserv in the 4th quarter valued at about $5,885,279,000. Capital World Investors acquired a new stake in shares of Fiserv in the 4th quarter valued at about $2,329,623,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Fiserv in the 4th quarter valued at about $960,592,000. Finally, Veritas Asset Management LLP acquired a new stake in shares of Fiserv in the 4th quarter valued at about $927,298,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.