Fiserv, Inc. (NYSE:FI) Shares Purchased by Westover Capital Advisors LLC

Key Points

• Westover Capital Advisors LLC increased its holdings in Fiserv by 28.6% during Q1, owning 11,683 shares valued at approximately $2.58 million.
• Fiserv's stock price fell by 2.0%, opening at $140.19, with a market capitalization of $77.73 billion and a P/E ratio of 23.40.
• Recent analyst reports have led to adjusted price targets for Fiserv, with varying recommendations from "buy" to "overweight," and the stock currently holds a consensus target price of $211.63.

Westover Capital Advisors LLC lifted its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 28.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,683 shares of the business services provider's stock after buying an additional 2,601 shares during the quarter. Westover Capital Advisors LLC's holdings in Fiserv were worth $2,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FI. Assetmark Inc. raised its stake in Fiserv by 4.5% in the 1st quarter. Assetmark Inc. now owns 91,414 shares of the business services provider's stock valued at $20,187,000 after purchasing an additional 3,933 shares during the last quarter. Elefante Mark B increased its stake in Fiserv by 11.6% in the first quarter. Elefante Mark B now owns 27,548 shares of the business services provider's stock valued at $6,083,000 after purchasing an additional 2,853 shares during the last quarter. Cetera Investment Advisers increased its stake in Fiserv by 12.7% in the first 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 last quarter. Avantax Advisory Services Inc. increased its stake in Fiserv by 5.8% in the first 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 last quarter. Finally, Jackson Hole Capital Partners LLC increased its stake in Fiserv by 1.6% in the first 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 last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated 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 directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. This represents 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 owned by corporate insiders.

Fiserv Stock Down 2.0%

NYSE:FI opened at $140.19 on Friday. The stock's fifty day simple moving average is $165.52 and its 200-day simple moving average is $195.37. The firm has a market capitalization of $77.73 billion, a P/E ratio of 23.40, a P/E/G ratio of 0.88 and a beta of 0.91. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last released 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. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the previous year, the business posted $2.13 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Analysts Set New Price Targets

FI has been the subject of several recent research reports. Susquehanna lowered their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a report on Thursday. Tigress Financial lifted their price objective on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Citigroup reduced 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. Barclays reduced their price target on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.63.

About Fiserv

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.

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