3,410 Shares in Fiserv, Inc. (NYSE:FI) Purchased by Michels Family Financial LLC

Michels Family Financial LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,410 shares of the business services provider's stock, valued at approximately $700,000.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Fiserv by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after acquiring an additional 218,833 shares during the last quarter. FMR LLC raised its holdings in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after buying an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after buying an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Fiserv by 5.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after buying an additional 340,938 shares during the period. Finally, Norges Bank purchased a new stake in Fiserv during the fourth quarter worth approximately $1,406,452,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now owns 53,385 shares of the company's stock, 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 link. Insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FI. Citigroup reduced their target price 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. Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Piper Sandler set a $218.00 target price on Fiserv in a research note on Friday, April 25th. Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price on the stock. in a report on Wednesday, April 9th. Finally, KeyCorp upped their price target on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.84.

Fiserv Stock Performance

Shares of NYSE FI traded down $1.45 during trading on Thursday, reaching $159.29. The stock had a trading volume of 2,976,088 shares, compared to its average volume of 3,112,904. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a market cap of $88.32 billion, a PE ratio of 29.56, a P/E/G ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The firm's 50 day moving average price is $193.59 and its two-hundred day moving average price is $207.93.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.