Elefante Mark B Acquires 2,853 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Elefante Mark B has increased its stake in Fiserv, Inc. by 11.6%, owning 27,548 shares valued at approximately $6,083,000, making it the fund's third largest holding.
• Other institutional investors, including Brighton Jones LLC and Zions Bancorporation N.A., have also significantly adjusted their holdings in Fiserv, reflecting a strong institutional interest as they own nearly 91% of the company's stock.
• Fiserv's stock recently traded at $142.00 with a market cap of approximately $78.73 billion, and the company reported $2.47 earnings per share for the last quarter, surpassing analyst expectations.

Elefante Mark B increased its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,548 shares of the business services provider's stock after purchasing an additional 2,853 shares during the period. Fiserv accounts for about 4.8% of Elefante Mark B's investment portfolio, making the stock its 3rd largest holding. Elefante Mark B's holdings in Fiserv were worth $6,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. Cetera Investment Advisers raised its stake in Fiserv by 12.7% during the 1st quarter. Cetera Investment Advisers now owns 110,358 shares of the business services provider's stock valued at $24,370,000 after purchasing an additional 12,437 shares during the period. Avantax Advisory Services Inc. raised its stake in Fiserv by 5.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 25,634 shares of the business services provider's stock valued at $5,661,000 after purchasing an additional 1,411 shares during the period. Jackson Hole Capital Partners LLC raised its stake in Fiserv by 1.6% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 12,623 shares of the business services provider's stock valued at $2,788,000 after purchasing an additional 195 shares during the period. Atria Investments Inc raised its stake in Fiserv by 8.0% during the 1st quarter. Atria Investments Inc now owns 53,904 shares of the business services provider's stock valued at $11,904,000 after purchasing an additional 4,005 shares during the period. Finally, One Wealth Advisors LLC raised its stake in Fiserv by 93.7% during the 1st quarter. One Wealth Advisors LLC now owns 4,708 shares of the business services provider's stock valued at $1,040,000 after purchasing an additional 2,277 shares during the period. Institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In related news, insider Adam L. Rosman sold 2,512 shares of the firm's 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 sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm's 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 in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Fiserv Trading Up 0.9%

FI stock traded up $1.23 during midday trading on Monday, reaching $143.26. The company's stock had a trading volume of 2,234,654 shares, compared to its average volume of 4,393,224. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The stock has a market cap of $79.43 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.92 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. The business's 50-day simple moving average is $165.03 and its 200-day simple moving average is $194.80.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $2.13 earnings per share. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fiserv in a research note on Thursday, July 17th. They set a "buy" rating and a $200.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. The Goldman Sachs Group lowered their price target on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Citigroup lowered their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Barclays set a $175.00 price target on shares of Fiserv and gave the company an "overweight" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.42.

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.