Pines Wealth Management LLC Invests $367,000 in Fiserv, Inc. (NYSE:FI)

Pines Wealth Management LLC acquired a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,660 shares of the business services provider's stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jacobi Capital Management LLC boosted its holdings in shares of Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock worth $2,281,000 after purchasing an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after purchasing an additional 44 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after buying an additional 45 shares in the last quarter. Hemington Wealth Management boosted its stake in Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider's stock worth $177,000 after buying an additional 50 shares in the last quarter. Finally, Pointe Capital Management LLC boosted its stake in Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock worth $649,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada set a $237.00 target price on Fiserv in a report on Friday, April 25th. The Goldman Sachs Group dropped their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods dropped their target price on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.27.

Fiserv Stock Performance

Shares of Fiserv stock opened at $166.90 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $92.54 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The business has a fifty day simple moving average of $185.54 and a two-hundred day simple moving average of $205.44.

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

Fiserv announced that its board has approved a share repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the business'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 completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.