Drive Wealth Management LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Drive Wealth Management LLC acquired 5,658 shares of Fiserv, Inc. worth approximately $1,249,000 during the first quarter, indicating strong institutional interest in the company.
• Equities analysts have issued varied price targets for Fiserv, with the consensus now at $211.63 following recent cuts by firms including Citigroup and Goldman Sachs.
• Fiserv reported earnings of $2.47 per share for the last quarter, surpassing estimates and showing an 8.0% year-over-year revenue growth, with total revenue reaching $5.20 billion.

Drive Wealth Management LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,658 shares of the business services provider's stock, valued at approximately $1,249,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC increased its stake in Fiserv by 3.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after buying an additional 230 shares in the last quarter. American National Bank & Trust grew its holdings in Fiserv by 2.4% in the 1st 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 in the last quarter. Evercore Wealth Management LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at approximately $54,981,000. Meridian Wealth Advisors LLC grew its holdings in shares of Fiserv by 4.1% during the 1st quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after purchasing an additional 1,046 shares during the period. Finally, Norges Bank purchased a new position in Fiserv during the fourth quarter worth about $1,406,452,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Buying and Selling

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction on 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 owned 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Fiserv Stock Performance

FI traded down $2.03 on Monday, hitting $140.00. 7,000,200 shares of the stock traded hands, compared to its average volume of 4,421,339. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The firm has a market capitalization of $77.62 billion, a PE ratio of 23.37, a P/E/G ratio of 0.92 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average price of $165.03 and a two-hundred day moving average price of $194.80.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FI has been the topic of several research analyst reports. Susquehanna decreased their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research note on Thursday. Tigress Financial lifted their price target on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup lowered their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group cut their target price on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $208.42.

Fiserv 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.