Capital Investment Advisory Services LLC acquired a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,569 shares of the business services provider's stock, valued at approximately $346,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FI. American National Bank & Trust increased its holdings in 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 period. Evercore Wealth Management LLC acquired a new position in shares of Fiserv during the 4th quarter worth about $54,981,000. Norges Bank purchased a new stake in Fiserv during the 4th quarter valued at about $1,406,452,000. Beck Mack & Oliver LLC grew its stake in Fiserv by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock valued at $105,463,000 after acquiring an additional 2,589 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of Fiserv by 15.0% in the 4th quarter. Ethic Inc. now owns 102,023 shares of the business services provider's stock valued at $20,958,000 after buying an additional 13,325 shares during the period. 90.98% of the stock is owned by institutional investors.
Insider Buying and Selling at Fiserv
In other news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. UBS Group dropped their target price on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Robert W. Baird decreased their target price on shares of Fiserv from $250.00 to $225.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Susquehanna cut their price target on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Mizuho set a $200.00 price objective on shares of Fiserv in a research report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.
Read Our Latest Research Report on Fiserv
Fiserv Stock Performance
NYSE FI traded up $0.36 during midday trading on Wednesday, hitting $170.78. The company had a trading volume of 302,010 shares, compared to its average volume of 4,085,422. 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 firm has a fifty day simple moving average of $170.45 and a two-hundred day simple moving average of $199.02. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The stock has a market cap of $94.68 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.07 and a beta of 0.91.
Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.
Fiserv Company Profile
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Free Report)
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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