Wealthspire Advisors LLC Acquires 11,323 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Wealthspire Advisors LLC increased its stake in Fiserv, Inc. by 89.0% in the first quarter, owning 24,044 shares valued at approximately $5.31 million.
• Wall Street analysts have mixed opinions on Fiserv, with an average rating of "Moderate Buy" and price targets ranging from $185.00 to $267.00.
• Notable insider transactions occurred, with Adam L. Rosman and EVP Andrew Gelb selling shares, reducing their stakes in the company significantly.

Wealthspire Advisors LLC grew its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 89.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,044 shares of the business services provider's stock after purchasing an additional 11,323 shares during the period. Wealthspire Advisors LLC's holdings in Fiserv were worth $5,310,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vega Investment Solutions acquired a new position in Fiserv during the 4th quarter worth $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the 4th quarter worth $28,000. Abound Financial LLC acquired a new position in Fiserv during the 1st quarter worth $38,000. Quarry LP grew its stake in Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in Fiserv during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Truist Financial boosted their target price on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. reduced their target price on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Stephens reduced their target price on Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Jefferies Financial Group reduced their price objective on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. Finally, Morgan Stanley reduced their price objective on Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred 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 directly owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on 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 owned 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was 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 corporate insiders.

Fiserv Stock Performance

FI stock traded up $0.40 during midday trading on Friday, reaching $133.10. The company had a trading volume of 3,927,627 shares, compared to its average volume of 7,009,811. The stock has a 50 day moving average price of $159.99 and a 200 day moving average price of $190.08. The firm has a market capitalization of $72.35 billion, a PE ratio of 22.22, a P/E/G ratio of 0.87 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a fifty-two week low of $128.22 and a fifty-two week high of $238.59.

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

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.