Fiserv (NYSE:FI) Coverage Initiated at Truist Financial

Truist Financial assumed coverage on shares of Fiserv (NYSE:FI - Free Report) in a report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $181.00 target price on the business services provider's stock.

Several other equities analysts have also commented on the company. Tigress Financial upped their target price on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. KeyCorp boosted their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Jefferies Financial Group cut their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Price Performance

Shares of NYSE:FI traded up $0.82 during trading on Monday, hitting $164.98. 1,799,772 shares of the stock were exchanged, compared to its average volume of 3,213,603. Fiserv has a 12-month low of $146.25 and a 12-month high of $238.59. The company has a market cap of $91.47 billion, a PE ratio of 30.61, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a fifty day moving average price of $187.75 and a two-hundred day moving average price of $206.18. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 earnings per share. On average, analysts forecast that Fiserv will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fiserv

Large investors have recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new stake in Fiserv during the fourth quarter worth about $25,000. Activest Wealth Management grew its holdings in shares of Fiserv by 3,150.0% during the first quarter. Activest Wealth Management now owns 130 shares of the business services provider's stock valued at $29,000 after purchasing an additional 126 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $28,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $29,000. Finally, Valley National Advisers Inc. acquired a new position in Fiserv during the 4th quarter valued at approximately $29,000. 90.98% of the stock is currently owned by institutional investors.

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.