Fiserv (NYSE:FI) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Fiserv (NYSE:FI) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other equities research analysts have also issued reports on FI. Susquehanna upped their price target on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. KeyCorp boosted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Fiserv Stock Up 0.9 %

Shares of FI opened at $231.85 on Tuesday. The stock has a 50 day moving average price of $216.09 and a 200 day moving average price of $200.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a market capitalization of $130.13 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94. Fiserv has a one year low of $145.98 and a one year high of $237.99.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Equities research analysts forecast that Fiserv will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several institutional investors have recently modified their holdings of FI. Geode Capital Management LLC grew its stake in Fiserv by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after purchasing an additional 218,833 shares in the last quarter. FMR LLC boosted its stake in shares of Fiserv by 22.5% in 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. Massachusetts Financial Services Co. MA grew its position in shares of Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after buying an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Fiserv by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock valued at $1,424,907,000 after purchasing an additional 340,938 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Fiserv in the 4th quarter valued at $1,406,452,000. Institutional investors and hedge funds 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.