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

Fiserv (NYSE:FI) had its target price increased by stock analysts at Royal Bank of Canada from $158.00 to $180.00 in a research report issued 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 would suggest a potential upside of 18.11% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on FI. StockNews.com began coverage on shares of Fiserv in a research note on Saturday, February 3rd. They issued a “buy” rating on the stock. Truist Financial lifted their price target on shares of Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday. Susquehanna lifted their target price on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Monday, March 25th. Finally, Stephens lifted their target price on shares of Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.46.

Fiserv Stock Performance

Shares of NYSE:FI traded down $2.99 during trading on Wednesday, hitting $152.40. 940,687 shares of the stock traded hands, compared to its average volume of 2,530,884. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market cap of $89.73 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.22 and a beta of 0.91. The company has a fifty day moving average price of $152.14 and a two-hundred day moving average price of $137.23. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99.

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

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the business’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 $25,209,646. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over 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.

Hedge Funds Weigh In On Fiserv

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. West Oak Capital LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. ZRC Wealth Management LLC acquired a new stake in shares of Fiserv in the first quarter valued at approximately $32,000. Halpern Financial Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. RE Dickinson Investment Advisors LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. Finally, GW&K Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. 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.