TD Cowen Boosts Fiserv (NYSE:FI) Price Target to $175.00

Fiserv (NYSE:FI) had its price objective boosted by TD Cowen from $167.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

A number of other analysts have also recently commented on the stock. Mizuho reiterated a buy rating and issued a $156.00 price target on shares of Fiserv in a research note on Wednesday, March 27th. Truist Financial raised their target price on shares of Fiserv from $140.00 to $145.00 and gave the stock a hold rating in a research note on Wednesday, February 7th. Robert W. Baird raised their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an outperform rating in a research note on Wednesday. Morgan Stanley raised their target price on shares of Fiserv from $133.00 to $142.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group raised their target price on shares of Fiserv from $150.00 to $160.00 and gave the stock a hold rating in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $164.33.

Fiserv Stock Performance

Shares of FI stock opened at $155.89 on Wednesday. The stock has a market cap of $91.21 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The company has a fifty day moving average price of $152.54 and a two-hundred day moving average price of $137.74. Fiserv has a one year low of $109.11 and a one year high of $159.99.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. As a group, equities analysts predict that Fiserv will post 8.69 EPS for the current year.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fiserv

Several hedge funds have recently bought and sold shares of the company. DAVENPORT & Co LLC grew its holdings in shares of Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock valued at $1,483,000 after purchasing an additional 2,002 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Fiserv by 76.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 11,612 shares of the business services provider’s stock valued at $1,312,000 after purchasing an additional 5,031 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Fiserv by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock valued at $1,151,000 after purchasing an additional 1,859 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Fiserv by 60.4% during the 3rd quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 821 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Fiserv by 1.0% during the 3rd quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock valued at $1,742,000 after purchasing an additional 147 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

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.