Fiserv (NYSE:FI) Sees Strong Trading Volume – Still a Buy?

Shares of Fiserv, Inc. (NYSE:FI) saw strong trading volume on Friday . 4,453,387 shares were traded during mid-day trading, an increase of 50% from the previous session’s volume of 2,960,565 shares.The stock last traded at $166.74 and had previously closed at $159.13.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. KeyCorp raised their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com assumed coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating for the company. The Goldman Sachs Group raised shares of Fiserv from a “neutral” rating to a “buy” rating and raised their target price for the company from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Finally, UBS Group decreased their price objective on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average target price of $230.00.

Fiserv Trading Up 4.7%

The business’s 50 day moving average price is $202.24 and its 200-day moving average price is $210.33. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $92.38 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI) last issued 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. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program 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 programs are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP raised its position in shares of Fiserv by 40.7% in the 1st quarter. Woodline Partners LP now owns 48,065 shares of the business services provider’s stock valued at $10,614,000 after buying an additional 13,899 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in shares of Fiserv by 25.8% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 467,276 shares of the business services provider’s stock valued at $103,189,000 after buying an additional 95,694 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of Fiserv by 474.3% in the 1st quarter. McIlrath & Eck LLC now owns 1,562 shares of the business services provider’s stock valued at $345,000 after buying an additional 1,290 shares in the last quarter. Empowered Funds LLC raised its position in shares of Fiserv by 297.0% in the 1st quarter. Empowered Funds LLC now owns 41,658 shares of the business services provider’s stock valued at $9,199,000 after buying an additional 31,166 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of Fiserv in the 1st quarter valued at approximately $317,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.