Wells Fargo & Company Increases Fiserv (NYSE:FI) Price Target to $270.00

Fiserv (NYSE:FI) had its target price boosted by research analysts at Wells Fargo & Company from $240.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.45% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on FI. Royal Bank of Canada increased their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. UBS Group upped their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Compass Point initiated coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target for the company. Barclays increased their price objective on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group lifted their target price on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus price target of $229.29.

Fiserv Price Performance

Fiserv stock traded up $2.33 during mid-day trading on Thursday, reaching $231.86. The company had a trading volume of 421,111 shares, compared to its average volume of 2,535,632. The business has a fifty day simple moving average of $208.61 and a 200 day simple moving average of $192.51. The company has a market cap of $131.91 billion, a P/E ratio of 44.51, a P/E/G ratio of 1.42 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv has a fifty-two week low of $140.26 and a fifty-two week high of $231.69.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. On average, equities research analysts predict that Fiserv 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 Fiserv stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

Institutional investors have recently bought and sold shares of the company. Valley National Advisers Inc. bought a new stake in shares of Fiserv in the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at $29,000. Compass Financial Services Inc bought a new stake in Fiserv in the 4th quarter worth about $31,000. Cedar Mountain Advisors LLC raised its position in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in Fiserv during the 3rd quarter valued at about $40,000. 90.98% of the stock is owned by hedge funds and other 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.