Fiserv (NYSE:FI) Hits New 1-Year High – Here’s What Happened

Fiserv, Inc. (NYSE:FI)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $215.50 and last traded at $214.45, with a volume of 107647 shares traded. The stock had previously closed at $214.06.

Wall Street Analyst Weigh In

FI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Oppenheimer initiated coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Fiserv Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day moving average price of $189.77 and a 200 day moving average price of $167.73. The firm has a market capitalization of $119.97 billion, a P/E ratio of 40.55, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. On average, analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Transactions at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This represents a 40.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,711 shares of company stock worth $47,477,232. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in Fiserv during the third quarter valued at approximately $58,507,000. Timber Creek Capital Management LLC boosted its holdings in Fiserv by 18.2% during the third quarter. Timber Creek Capital Management LLC now owns 28,294 shares of the business services provider’s stock valued at $5,083,000 after purchasing an additional 4,350 shares in the last quarter. Cobblestone Capital Advisors LLC NY acquired a new stake in Fiserv during the third quarter valued at approximately $235,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Fiserv by 43.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 547,145 shares of the business services provider’s stock valued at $98,295,000 after purchasing an additional 165,849 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Fiserv by 0.4% during the third quarter. Rockefeller Capital Management L.P. now owns 83,940 shares of the business services provider’s stock valued at $15,076,000 after purchasing an additional 297 shares in the last quarter. 90.98% of the stock is currently 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.