Citigroup Increases Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price objective increased by analysts at Citigroup from $171.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Citigroup’s price target indicates a potential upside of 17.42% from the stock’s previous close.

A number of other research firms also recently weighed in on FI. UBS Group lifted their price target on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets upped their target price on Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer raised Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Thursday, January 11th. Stephens reaffirmed an “equal weight” rating and issued a $165.00 price target on shares of Fiserv in a research note on Wednesday. Finally, Morgan Stanley increased their price objective 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. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Stock Performance

FI opened at $153.29 on Wednesday. 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 business has a fifty day simple moving average of $152.39 and a 200 day simple moving average of $137.45. Fiserv has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a market capitalization of $90.25 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Research analysts expect that Fiserv will post 8.63 EPS for the current year.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,477,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FI. DAVENPORT & Co LLC grew its holdings in Fiserv by 18.0% in the third quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock worth $1,483,000 after purchasing an additional 2,002 shares during the period. Meridian Wealth Management LLC grew its stake in shares of Fiserv by 76.4% in 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 buying an additional 5,031 shares during the period. Exchange Traded Concepts LLC increased its position in Fiserv by 22.3% in 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 buying an additional 1,859 shares in the last quarter. Private Trust Co. NA raised its stake in Fiserv by 60.4% during the 3rd quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after buying an additional 821 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Fiserv by 1.0% in the third quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock worth $1,742,000 after acquiring an additional 147 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

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.