JPMorgan Chase & Co. Cuts Fiserv (NYSE:FI) Price Target to $190.00

Fiserv (NYSE:FI - Get Free Report) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $210.00 to $190.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 35.37% from the company's previous close.

Other research analysts have also issued reports about the company. Robert W. Baird lowered their target price on Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday. KeyCorp dropped their target price on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday. Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a report on Monday. UBS Group dropped their target price on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, Jefferies Financial Group dropped their target price on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and an average target price of $211.63.

Fiserv Price Performance

NYSE:FI traded down $2.65 during mid-day trading on Thursday, reaching $140.35. The stock had a trading volume of 5,758,071 shares, compared to its average volume of 4,331,188. Fiserv has a 12 month low of $128.22 and a 12 month high of $238.59. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $77.82 billion, a PE ratio of 24.83, a P/E/G ratio of 1.02 and a beta of 0.91. The stock has a 50-day simple moving average of $165.90 and a two-hundred day simple moving average of $195.82.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.04. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Fiserv will post 10.23 earnings per share for the current year.

Insider Activity

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 value of $904,320.00. Following the transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fiserv

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Fiserv by 1.1% in the first 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 period. JPMorgan Chase & Co. grew its holdings in shares of Fiserv by 77.2% in 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Fiserv by 1.9% in 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 last quarter. FMR LLC grew its holdings in shares of Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Fiserv by 3.2% in the first 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 purchasing an additional 253,544 shares during the last quarter. 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.

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