D.A. Davidson & CO. Grows Position in Fiserv, Inc. (NYSE:FI)

D.A. Davidson & CO. grew its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,664 shares of the business services provider's stock after buying an additional 4,934 shares during the period. D.A. Davidson & CO.'s holdings in Fiserv were worth $36,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vega Investment Solutions purchased a new position in shares of Fiserv during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at about $28,000. Campbell Capital Management Inc. purchased a new position in Fiserv during the 4th quarter worth approximately $37,000. Quarry LP increased its position in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after buying an additional 70 shares during the period. Finally, Knuff & Co LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FI. Piper Sandler set a $218.00 target price on shares of Fiserv in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 target price (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. UBS Group lowered their price target on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $221.23.

Fiserv Price Performance

Shares of FI stock traded up $3.10 during midday trading on Friday, reaching $175.55. 2,211,394 shares of the company traded hands, compared to its average volume of 3,352,892. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The firm has a market cap of $97.33 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. The firm's 50 day simple moving average is $170.87 and its two-hundred day simple moving average is $199.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. On average, equities research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president owned 25,385 shares of the company's stock, valued at $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 is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

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.