B. Riley Boosts Fiserv (NYSE:FI) Price Target to $180.00

Fiserv (NYSE:FI) had its price target boosted by B. Riley from $176.00 to $180.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the business services provider’s stock. B. Riley also issued estimates for Fiserv’s Q2 2024 earnings at $2.07 EPS, Q3 2024 earnings at $2.25 EPS, FY2024 earnings at $8.74 EPS and FY2025 earnings at $10.27 EPS.

Other equities research analysts have also issued research reports about the company. Robert W. Baird upped their target price on Fiserv from $185.00 to $186.00 and gave the company an outperform rating in a research note on Wednesday. Barclays upped their target price on Fiserv from $165.00 to $185.00 and gave the company an overweight rating in a research note on Monday, April 1st. KeyCorp upped their target price on Fiserv from $160.00 to $170.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Morgan Stanley upped their target price on Fiserv from $133.00 to $142.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group upped their target price on Fiserv from $150.00 to $160.00 and gave the company a hold rating in a research note on Monday, March 25th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $164.33.

Fiserv Price Performance

Shares of NYSE:FI opened at $155.89 on Wednesday. The business’s 50 day simple moving average is $152.54 and its 200-day simple moving average is $137.74. The firm has a market capitalization of $91.21 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth 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. Fiserv has a 12 month low of $109.11 and a 12 month 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, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. As a group, equities analysts forecast that Fiserv will post 8.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the company’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 completion of 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 filing with the SEC, which is accessible through this link. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 in the last ninety days. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several large investors have recently modified their holdings of FI. DAVENPORT & Co LLC lifted its position in shares of Fiserv by 18.0% during 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 last quarter. Meridian Wealth Management LLC lifted its holdings in Fiserv by 76.4% in the third quarter. Meridian Wealth Management LLC now owns 11,612 shares of the business services provider’s stock worth $1,312,000 after acquiring an additional 5,031 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Fiserv by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock worth $1,151,000 after acquiring an additional 1,859 shares during the last quarter. Private Trust Co. NA lifted its holdings in Fiserv by 60.4% in the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after acquiring an additional 821 shares during the last quarter. Finally, UMB Bank n.a. lifted 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 during the last quarter. 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.