Sagespring Wealth Partners LLC Purchases 2,621 Shares of Fiserv, Inc. (NYSE:FI)

Sagespring Wealth Partners LLC lifted its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,308 shares of the business services provider's stock after buying an additional 2,621 shares during the period. Sagespring Wealth Partners LLC's holdings in Fiserv were worth $3,380,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Fiserv by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock worth $190,875,000 after buying an additional 7,183 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Fiserv in the fourth quarter worth about $79,000. American National Bank & Trust increased its holdings in shares of Fiserv by 2.4% in the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after buying an additional 1,983 shares during the period. bLong Financial LLC purchased a new position in shares of Fiserv in the fourth quarter worth about $265,000. Finally, Evercore Wealth Management LLC purchased a new position in Fiserv during the 4th quarter valued at about $54,981,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FI. Keefe, Bruyette & Woods reduced their price target on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and set a $268.00 price target (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Susquehanna reduced their price target on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, April 25th. BMO Capital Markets reduced their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler set a $218.00 price target on Fiserv in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Trading Down 3.1%

FI opened at $162.79 on Monday. 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 cap of $90.26 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 12 month low of $146.46 and a 12 month high of $238.59. The stock has a 50-day moving average of $181.52 and a 200 day moving average of $203.45.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly 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. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv 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 value of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv 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 transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by 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.

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