Moran Wealth Management LLC Buys New Stake in Fiserv, Inc. (NYSE:FI)

Moran Wealth Management LLC purchased a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 43,428 shares of the business services provider's stock, valued at approximately $9,590,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vega Investment Solutions purchased a new stake in Fiserv in the fourth quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in shares of Fiserv in the 4th quarter worth approximately $28,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $37,000. Quarry LP increased its position in Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, Knuff & Co LLC bought a new position in Fiserv during the 4th quarter valued at approximately $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FI shares. Jefferies Financial Group dropped their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Piper Sandler set a $218.00 price target on shares of Fiserv in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Citigroup reduced their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.23.

Fiserv Stock Performance

FI traded up $1.09 during trading on Thursday, hitting $171.45. The company's stock had a trading volume of 3,051,052 shares, compared to its average volume of 3,330,538. The business's 50 day simple moving average is $174.80 and its 200-day simple moving average is $200.95. The firm has a market cap of $95.06 billion, a PE ratio of 30.29, a P/E/G ratio of 1.07 and a beta of 0.90. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. Fiserv's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 EPS. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insider Activity at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $904,320.00. Following the completion of the sale, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% 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 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.