Fiserv (NYSE:FI) Sees Strong Trading Volume – Still a Buy?

Shares of Fiserv, Inc. (NYSE:FI) saw unusually-high trading volume on Friday . Approximately 4,453,387 shares traded hands during trading, an increase of 50% from the previous session’s volume of 2,960,565 shares.The stock last traded at $166.74 and had previously closed at $159.13.

Wall Street Analysts Forecast Growth

FI has been the topic of several research reports. KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Piper Sandler set a $218.00 target price on shares of Fiserv in a report on Friday, April 25th. Susquehanna reduced their target price on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Stephens boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Fiserv Stock Performance

The firm has a market capitalization of $92.38 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company’s 50 day moving average is $202.24 and its 200-day moving average is $210.33. 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 (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share 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 firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has authorized a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock worth $11,059,063,000 after acquiring an additional 535,407 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Fiserv by 77.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after acquiring an additional 218,833 shares in the last quarter. FMR LLC grew its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Fiserv by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock worth $1,829,451,000 after acquiring an additional 253,544 shares in the last quarter. Institutional investors and hedge funds 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.