Advisor Resource Council Takes Position in Fiserv, Inc. (NYSE:FI)

Advisor Resource Council acquired a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,104 shares of the business services provider's stock, valued at approximately $4,277,000.

Other hedge funds also recently bought and sold shares of the company. Vega Investment Solutions bought a new stake in shares of Fiserv during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new position in shares of Fiserv in the fourth quarter worth approximately $28,000. Marshall Investment Management LLC bought a new stake in Fiserv during the fourth quarter valued at approximately $29,000. Campbell Capital Management Inc. purchased a new stake in Fiserv during the fourth quarter valued at approximately $37,000. Finally, Quarry LP increased its holdings in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

FI has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Fiserv from $250.00 to $225.00 and set an "outperform" rating on the stock in a research note on Wednesday. Truist Financial assumed coverage on Fiserv in a research report on Monday, June 2nd. They set a "buy" rating and a $181.00 target price on the stock. UBS Group cut their price target on Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. BMO Capital Markets decreased their price objective on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Susquehanna lowered their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.23.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the 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 sale, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% 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 insiders.

Fiserv Trading Down 1.4%

Shares of Fiserv stock opened at $161.19 on Friday. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $178.13 and a 200-day moving average price of $202.10. The firm has a market cap of $89.37 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.00 and a beta of 0.90.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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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