Fiserv, Inc. (NYSE:FI) Stake Increased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in Fiserv, Inc. by 82.1% during the first quarter, resulting in a total of 63,099 shares valued at approximately $13.93 million.
• Fiserv's stock has seen a 1.4% decline recently, with its price fluctuating between a twelve-month low of $128.22 and a high of $238.59.
• In its latest quarterly earnings report, Fiserv reported $2.47 earnings per share, exceeding analysts’ expectations, alongside a revenue of $5.20 billion, marking an 8.0% year-over-year increase.

Geneos Wealth Management Inc. grew its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 82.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,099 shares of the business services provider's stock after acquiring an additional 28,444 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Fiserv were worth $13,934,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on FI shares. Piper Sandler set a $218.00 target price on Fiserv in a research note on Friday, April 25th. Truist Financial raised their price target on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Stephens reduced their price target on Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Keefe, Bruyette & Woods reduced their price target on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Redburn Atlantic reissued a "sell" rating and issued a $150.00 price target on shares of Fiserv in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.08.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider owned 53,385 shares of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. 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 down $3.12 on Friday, reaching $135.82. The company's stock had a trading volume of 3,818,051 shares, compared to its average volume of 4,457,816. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The company has a market capitalization of $73.83 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. The firm has a fifty day moving average of $163.09 and a two-hundred day moving average of $193.22. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

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