Fiserv (NYSE:FI) Sets New 52-Week High – Still a Buy?

Shares of Fiserv, Inc. (NYSE:FI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $222.51 and last traded at $222.51, with a volume of 921 shares changing hands. The stock had previously closed at $221.56.

Analysts Set New Price Targets

A number of equities analysts have commented on FI shares. Jefferies Financial Group lifted their price objective on shares of Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen boosted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Citigroup raised their price target on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $197.64 and a two-hundred day moving average of $171.95. The firm has a market cap of $126.56 billion, a P/E ratio of 42.78, a PEG ratio of 1.69 and a beta of 0.92.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company posted $1.96 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In other news, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the sale, the director now owns 33,235 shares in the company, valued at $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on 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 directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,821 shares of company stock worth $44,299,745. Insiders own 0.75% of the company’s stock.

Institutional Trading of Fiserv

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its position in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after acquiring an additional 64,332 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after purchasing an additional 85,598 shares during the period. Sanders Capital LLC purchased a new stake in shares of Fiserv in the third quarter worth approximately $764,543,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Fiserv by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after purchasing an additional 225,159 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.