KeyCorp Raises Fiserv (NYSE:FI) Price Target to $170.00

Fiserv (NYSE:FI) had its price target hoisted by KeyCorp from $160.00 to $170.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other research firms also recently weighed in on FI. BMO Capital Markets boosted their price target on shares of Fiserv from $152.00 to $157.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $144.00 to $158.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Mizuho restated a buy rating and issued a $156.00 price objective on shares of Fiserv in a research report on Wednesday, March 27th. Evercore ISI restated an outperform rating and issued a $185.00 price objective on shares of Fiserv in a research report on Tuesday, March 26th. Finally, Oppenheimer upgraded shares of Fiserv from a market perform rating to an outperform rating and set a $168.00 price objective on the stock in a research report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $164.33.

Fiserv Stock Performance

NYSE FI opened at $152.25 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $89.64 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.22 and a beta of 0.91. The company has a fifty day moving average of $152.28 and a 200-day moving average of $137.34. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99.

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

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 23,929 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in Fiserv by 8.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 63,738 shares of the business services provider’s stock valued at $10,187,000 after purchasing an additional 4,703 shares during the period. Patton Albertson Miller Group LLC lifted its position in Fiserv by 6.6% during the first quarter. Patton Albertson Miller Group LLC now owns 45,859 shares of the business services provider’s stock valued at $7,329,000 after purchasing an additional 2,826 shares during the period. CENTRAL TRUST Co lifted its position in Fiserv by 0.6% during the first quarter. CENTRAL TRUST Co now owns 20,143 shares of the business services provider’s stock valued at $3,219,000 after purchasing an additional 112 shares during the period. V Square Quantitative Management LLC lifted its position in Fiserv by 25.7% during the first quarter. V Square Quantitative Management LLC now owns 11,982 shares of the business services provider’s stock valued at $1,915,000 after purchasing an additional 2,448 shares during the period. Finally, Dakota Wealth Management lifted its position in Fiserv by 492.3% during the first quarter. Dakota Wealth Management now owns 12,942 shares of the business services provider’s stock valued at $2,068,000 after purchasing an additional 10,757 shares during the period. 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.