Tigress Financial Forecasts Strong Price Appreciation for Fiserv (NYSE:FI) Stock

Fiserv (NYSE:FI - Get Free Report) had its price target upped by investment analysts at Tigress Financial from $244.00 to $250.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Tigress Financial's price target suggests a potential upside of 53.94% from the company's previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Jefferies Financial Group reduced their price target on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research report on Tuesday. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Piper Sandler set a $218.00 price target on Fiserv in a report on Friday, April 25th. Finally, Wells Fargo & Company raised their price target on Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and a consensus target price of $221.84.

Fiserv Trading Up 1.7%

NYSE:FI traded up $2.78 on Thursday, hitting $162.40. 11,957,533 shares of the stock were exchanged, compared to its average volume of 3,177,096. The stock has a market capitalization of $90.04 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.52 and a beta of 0.97. Fiserv has a 52 week low of $146.25 and a 52 week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company's 50-day moving average price is $191.13 and its 200 day moving average price is $207.19.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. On average, equities research analysts forecast that Fiserv will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Fiserv

A number of large investors have recently made changes to their positions in the business. Vega Investment Solutions purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $28,000. Valley National Advisers Inc. purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its stake in 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 buying an additional 126 shares during the last quarter. 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.