Heidi Miller, a director at Fiserv Inc . (NASDAQ:NYSE:FI), recently sold a total of 30,000 shares of the company's common stock. The transactions, which took place on October 30, 2024, were executed at prices ranging from $200.56 to $202.05 per share, resulting in a total sale value of approximately $6.03 million.
Following these transactions, Miller retains ownership of 33,235 shares of Fiserv's common stock. The sales were carried out in multiple trades, with the reported prices reflecting the weighted average sale price for each transaction.
In other recent news, Fiserv has seen a series of upgrades from various financial firms following its third-quarter financial results. KeyBanc raised the stock price target for Fiserv to $225 and maintained an Overweight rating, noting that the company's adjusted earnings per share (EPS) and updated full-year 2024 guidance surpassed analyst predictions. TD Cowen also increased its price target to $230, citing the company's consistent low double-digit organic revenue growth and mid-teen earnings per share expansion.
RBC Capital Markets increased its price target on the stock to $224, expressing confidence in Fiserv's sustained growth, while Wells Fargo (NYSE:WFC) maintained its Overweight rating and increased the price target to $220. Baird also increased its price target on Fiserv stock to $220 and maintained an Outperform rating, highlighting the company's strong third-quarter performance.
Fiserv's Merchant Solutions segment reported a 28% year-over-year increase, and the company raised its full-year guidance for organic revenue growth to 16%-17% and adjusted EPS to $8.73-$8.80. These recent developments reflect the financial industry's confidence in Fiserv's consistent performance and future growth prospects.
InvestingPro Insights
As Heidi Miller's recent stock sale catches investor attention, it's worth examining Fiserv's current market position and financial performance. According to InvestingPro data, Fiserv boasts a substantial market capitalization of $113.12 billion, underscoring its position as a prominent player in the Financial Services industry. This aligns with one of the InvestingPro Tips, which highlights Fiserv's significant role in its sector.
The company's stock has shown remarkable strength, with a 75.66% price total return over the past year and a 30.88% return in the last six months. These figures reflect the stock's robust performance, which is further emphasized by another InvestingPro Tip indicating that Fiserv is trading near its 52-week high, with the current price at 97.2% of that peak.
While Fiserv's growth trajectory appears strong, investors should note that the stock is trading at a high P/E ratio of 38.07, which the InvestingPro Tips suggest may be elevated relative to near-term earnings growth. This valuation metric could be an important consideration for those assessing the stock's current price levels in light of Miller's recent sale.
For a more comprehensive analysis, InvestingPro offers additional insights, with 13 more tips available for Fiserv. These tips could provide valuable context for understanding the company's financial health and future prospects, especially following this significant insider transaction.
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