Fiserv (NYSE:FI) Price Target Cut to $266.00 by Analysts at Morgan Stanley

Fiserv (NYSE:FI - Get Free Report) had its price target dropped by Morgan Stanley from $268.00 to $266.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Morgan Stanley's price objective indicates a potential upside of 60.45% from the company's current price.

FI has been the subject of a number of other reports. 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. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday. Citigroup lowered their target price on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada set a $237.00 target price on shares of Fiserv in a research note on Friday, April 25th. Finally, Susquehanna lowered their target price on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $220.52.

Fiserv Price Performance

Shares of FI traded up $0.04 during mid-day trading on Monday, reaching $165.78. 1,437,102 shares of the company's stock were exchanged, compared to its average volume of 3,423,507. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $167.76 and a two-hundred day simple moving average of $196.70. Fiserv has a 52-week low of $154.17 and a 52-week high of $238.59. The company has a market cap of $91.91 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.02 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period last year, the company posted $1.88 EPS. The company's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Fiserv will post 10.23 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FI. Vanguard Group Inc. boosted its stake in Fiserv by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock valued at $11,059,063,000 after acquiring an additional 535,407 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fiserv by 77.2% during the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after purchasing an additional 6,691,703 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fiserv by 1.9% during the fourth 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 during the period. FMR LLC lifted its position 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 worth $2,376,482,000 after buying an additional 2,126,419 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Fiserv by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock worth $1,829,451,000 after buying an additional 253,544 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.