Oppenheimer Increases Fiserv (NASDAQ:FISV) Price Target to $120.00

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Fiserv (NASDAQ:FISV) had its target price lifted by Oppenheimer from $105.00 to $120.00 in a research note published on Wednesday, October 30th, The Fly reports. Oppenheimer currently has an outperform rating on the business services provider’s stock. Oppenheimer also issued estimates for Fiserv’s Q3 2019 earnings at $1.08 EPS, Q4 2019 earnings at $1.14 EPS, FY2019 earnings at $4.07 EPS, Q1 2020 earnings at $1.09 EPS, Q2 2020 earnings at $1.20 EPS, Q3 2020 earnings at $1.20 EPS, Q4 2020 earnings at $1.31 EPS, FY2020 earnings at $4.80 EPS and FY2021 earnings at $5.65 EPS.

A number of other research analysts have also issued reports on FISV. Royal Bank of Canada set a $106.00 target price on shares of Fiserv and gave the company a buy rating in a research note on Friday, July 26th. UBS Group initiated coverage on shares of Fiserv in a research note on Monday, October 14th. They set a buy rating and a $120.00 target price for the company. BidaskClub lowered shares of Fiserv from a buy rating to a hold rating in a research note on Wednesday, October 23rd. Wedbush boosted their target price on shares of Fiserv from $95.00 to $105.00 and gave the company an outperform rating in a research note on Monday, July 15th. Finally, Argus reiterated a buy rating on shares of Fiserv in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the stock. Fiserv presently has an average rating of Buy and a consensus target price of $107.85.

Fiserv stock traded up $0.96 during mid-day trading on Wednesday, reaching $110.61. The company had a trading volume of 4,201,000 shares, compared to its average volume of 4,555,937. The company has a debt-to-equity ratio of 5.40, a current ratio of 4.97 and a quick ratio of 4.97. Fiserv has a 1 year low of $68.45 and a 1 year high of $111.46. The stock’s 50-day simple moving average is $104.63 and its 200-day simple moving average is $97.58. The company has a market capitalization of $40.87 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.15 and a beta of 0.78.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.78 billion. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, equities analysts forecast that Fiserv will post 4.03 EPS for the current fiscal year.

In other Fiserv news, insider Guy Chiarello sold 46,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $107.70, for a total value of $4,954,200.00. Following the transaction, the insider now owns 372,447 shares in the company, valued at approximately $40,112,541.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $103.67, for a total transaction of $2,591,750.00. Following the completion of the sale, the chief executive officer now directly owns 271,229 shares of the company’s stock, valued at $28,118,310.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,000 shares of company stock worth $13,422,250. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Truewealth LLC boosted its holdings in shares of Fiserv by 70.5% during the 3rd quarter. Truewealth LLC now owns 249 shares of the business services provider’s stock worth $26,000 after buying an additional 103 shares during the period. Cordasco Financial Network bought a new stake in shares of Fiserv during the 3rd quarter worth $29,000. Advantage Investment Management LLC boosted its holdings in shares of Fiserv by 126.4% during the 2nd quarter. Advantage Investment Management LLC now owns 335 shares of the business services provider’s stock worth $31,000 after buying an additional 187 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Fiserv during the 3rd quarter worth $31,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of Fiserv by 523.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 374 shares of the business services provider’s stock worth $34,000 after buying an additional 314 shares during the period.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.

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