Fiserv (NYSE:FI) Receives Outperform Rating from Royal Bank of Canada

Fiserv (NYSE:FI)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They presently have a $183.00 target price on the business services provider’s stock. Royal Bank of Canada’s target price suggests a potential downside of 0.20% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Robert W. Baird raised their target price on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. TD Cowen raised their price objective on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp boosted their target price on shares of Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods raised their price target on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $177.64.

Fiserv Stock Performance

NYSE:FI opened at $183.36 on Wednesday. Fiserv has a 52 week low of $109.11 and a 52 week high of $183.56. The company has a fifty day simple moving average of $170.20 and a two-hundred day simple moving average of $158.56. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The company has a market cap of $107.28 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. As a group, equities analysts anticipate that Fiserv will post 8.74 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $25,350,427.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,890 shares of company stock valued at $36,572,057. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Institutional investors have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC acquired a new position in shares of Fiserv during the 1st quarter worth $25,000. RE Dickinson Investment Advisors LLC purchased a new stake in Fiserv during the fourth quarter worth about $27,000. Family Firm Inc. acquired a new position in Fiserv during the second quarter worth about $31,000. ZRC Wealth Management LLC purchased a new position in Fiserv in the first quarter valued at about $32,000. Finally, Quarry LP acquired a new stake in shares of Fiserv during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.