KeyCorp Raises Fiserv (NYSE:FI) Price Target to $270.00

Fiserv (NYSE:FI) had its target price increased by analysts at KeyCorp from $250.00 to $270.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. KeyCorp’s target price points to a potential upside of 17.30% from the company’s current price.

A number of other brokerages also recently weighed in on FI. JPMorgan Chase & Co. boosted their target price on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stephens lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays lifted their price objective on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $235.91.

Fiserv Price Performance

Shares of FI opened at $230.18 on Thursday. The company has a market cap of $130.95 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.42 and a beta of 0.94. Fiserv has a 1-year low of $142.14 and a 1-year high of $233.26. The company’s fifty day simple moving average is $208.82 and its 200 day simple moving average is $192.78. 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 (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. On average, research analysts forecast that Fiserv will post 8.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fiserv 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 completion of the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FI. Soros Capital Management LLC increased its stake in shares of Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after buying an additional 22,884 shares during the period. Czech National Bank increased its stake in shares of Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the period. Chiron Investment Management LLC acquired a new position in shares of Fiserv in the third quarter valued at approximately $4,709,000. Trust Co. of Vermont increased its stake in shares of Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after buying an additional 4,310 shares during the period. Finally, Cardano Risk Management B.V. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $97,254,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.