Fiserv (NYSE:FI) Price Target Lowered to $194.00 at The Goldman Sachs Group

Fiserv (NYSE:FI) had its price objective reduced by The Goldman Sachs Group from $223.00 to $194.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other brokerages have also commented on FI. Wells Fargo & Company boosted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods cut their price objective on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. UBS Group cut their price objective on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Citigroup cut their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.20.

Fiserv Stock Performance

NYSE:FI opened at $162.63 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $90.17 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.52 and a beta of 0.97. The firm’s fifty day simple moving average is $199.50 and its 200 day simple moving average is $209.55. Fiserv has a twelve month low of $146.25 and a twelve month high of $238.59.

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

Fiserv announced that its board has authorized a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Fiserv

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew 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 last quarter. JPMorgan Chase & Co. grew 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 last quarter. Geode Capital Management LLC grew 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 last quarter. FMR LLC grew 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 last quarter. Finally, Massachusetts Financial Services Co. MA grew 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 last quarter. 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.