The Goldman Sachs Group Upgrades Fiserv (NYSE:FI) to Buy

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

Other research analysts have also recently issued reports about the company. Barclays lifted their price objective on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has an average rating of “Buy” and a consensus price target of $243.64.

Fiserv Stock Up 2.0 %

Shares of FI stock opened at $226.39 on Wednesday. The company has a 50 day simple moving average of $222.85 and a two-hundred day simple moving average of $208.96. The stock has a market cap of $127.07 billion, a P/E ratio of 42.00, a P/E/G 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. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, research analysts expect that Fiserv will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is owned by insiders.

Institutional Trading of Fiserv

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Czech National Bank increased its position in Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after acquiring an additional 6,072 shares during the last quarter. Chiron Investment Management LLC bought a new position in Fiserv during the 3rd quarter valued at about $4,709,000. Trust Co. of Vermont raised its position in Fiserv by 170.4% in the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 4,310 shares during the period. Cardano Risk Management B.V. bought a new stake in Fiserv in the fourth quarter worth about $97,254,000. Finally, M&T Bank Corp boosted its position in shares of Fiserv by 12.0% during the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after buying an additional 15,103 shares during the period. Hedge funds and other 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.