Fiserv (NYSE:FI) Upgraded by The Goldman Sachs Group to “Buy” Rating

The Goldman Sachs Group upgraded shares of Fiserv (NYSE:FI) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat reports. The firm currently has $260.00 price target on the business services provider’s stock, up from their prior price target of $246.00.

Several other equities research analysts have also recently commented on FI. Stephens raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com assumed coverage on Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $243.64.

Fiserv Price Performance

FI stock opened at $226.39 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $222.85 and its two-hundred day moving average price is $208.96. The stock has a market capitalization of $127.07 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 1.52 and a beta of 0.93. Fiserv has a 12-month low of $145.98 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last released 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 17.93% and a net margin of 15.31%. As a group, equities analysts predict that Fiserv will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fiserv

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Fiserv during the fourth quarter valued at approximately $1,406,452,000. Raymond James Financial Inc. bought a new stake in Fiserv in the 4th quarter worth approximately $614,982,000. Kovitz Investment Group Partners LLC raised its stake in Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after buying an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares during the period. Finally, FMR LLC lifted its holdings in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after buying an additional 2,126,419 shares during the period. 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.