KeyCorp Has Lowered Expectations for Fiserv (NYSE:FI) Stock Price

Fiserv (NYSE:FI - Free Report) had its target price lowered by KeyCorp from $250.00 to $200.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the business services provider's stock.

A number of other brokerages have also weighed in on FI. Citigroup reduced their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group reduced their price target on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Morgan Stanley cut their target price on Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a research report on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price on the stock. Finally, Monness Crespi & Hardt raised Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday. 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 one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $209.59.

Fiserv Price Performance

NYSE:FI traded up $1.92 during trading hours on Thursday, reaching $142.00. 7,781,444 shares of the company traded hands, compared to its average volume of 5,455,337. The firm's 50-day moving average is $165.03 and its 200-day moving average is $194.95. The stock has a market cap of $78.73 billion, a P/E ratio of 23.71, a P/E/G ratio of 0.86 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.10. Fiserv has a 1-year low of $128.22 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the company posted $2.13 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Fiserv will post 10.23 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 completion of the transaction, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the transaction, the executive vice president owned 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fiserv

A number of hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its stake in Fiserv by 3.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock valued at $1,743,000 after purchasing an additional 230 shares during the period. American National Bank & Trust raised its holdings in shares of Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after buying an additional 1,983 shares during the last quarter. Evercore Wealth Management LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $54,981,000. Meridian Wealth Advisors LLC grew its holdings in Fiserv by 4.1% in the 1st quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after buying an additional 1,046 shares in the last quarter. Finally, Norges Bank bought a new position in Fiserv in the 4th quarter worth approximately $1,406,452,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.