Dogwood Wealth Management LLC Buys 4,007 Shares of Fiserv, Inc. (NYSE:FI)

Dogwood Wealth Management LLC raised its position in Fiserv, Inc. (NYSE:FI - Free Report) by 142.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,827 shares of the business services provider's stock after buying an additional 4,007 shares during the period. Dogwood Wealth Management LLC's holdings in Fiserv were worth $1,402,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FI. Norges Bank bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $1,406,452,000. Raymond James Financial Inc. bought a new stake in Fiserv during the fourth quarter valued at $614,982,000. Kovitz Investment Group Partners LLC increased its stake in Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after purchasing an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after buying an additional 2,153,554 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after buying an additional 2,126,419 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of FI stock traded up $2.78 during trading on Friday, reaching $162.40. The company had a trading volume of 11,957,533 shares, compared to its average volume of 3,980,275. The company has a market capitalization of $90.04 billion, a PE ratio of 30.13, a PEG ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm's 50 day simple moving average is $192.34 and its two-hundred day simple moving average is $207.55. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FI shares. Susquehanna reduced their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research report on Friday, April 25th. UBS Group reduced their price target on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday. BMO Capital Markets lowered their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company increased their price target on Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.84.

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.