Barclays Cuts Fiserv (NYSE:FI) Price Target to $230.00

Fiserv (NYSE:FI) had its price target cut by Barclays from $265.00 to $230.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods lowered their target price on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Wells Fargo & Company upped their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com assumed coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Citigroup lowered their target price 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. Finally, The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the company from $246.00 to $260.00 in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.00.

Fiserv Trading Down 0.3 %

NYSE FI opened at $184.65 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv has a 52 week low of $146.25 and a 52 week high of $238.59. The stock has a market capitalization of $103.14 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The firm has a 50 day moving average of $212.97 and a two-hundred day moving average of $211.66.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that Fiserv will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Several institutional investors have recently modified their holdings of the company. Genus Capital Management Inc. lifted its stake in Fiserv by 240.8% in the 1st quarter. Genus Capital Management Inc. now owns 16,707 shares of the business services provider’s stock valued at $3,689,000 after buying an additional 28,569 shares in the last quarter. Ramsay Stattman Vela & Price Inc. lifted its stake in Fiserv by 0.6% in the 1st quarter. Ramsay Stattman Vela & Price Inc. now owns 84,134 shares of the business services provider’s stock valued at $18,579,000 after buying an additional 485 shares in the last quarter. Covey Capital Advisors LLC lifted its stake in Fiserv by 0.8% in the 1st quarter. Covey Capital Advisors LLC now owns 12,073 shares of the business services provider’s stock valued at $2,666,000 after buying an additional 90 shares in the last quarter. MJP Associates Inc. ADV purchased a new stake in Fiserv in the 1st quarter valued at approximately $231,000. Finally, Cerity Partners LLC lifted its stake in Fiserv by 17.2% in the 1st quarter. Cerity Partners LLC now owns 476,569 shares of the business services provider’s stock valued at $105,241,000 after buying an additional 69,977 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.