Spectrum Wealth Counsel LLC Invests $1 Million in Fiserv, Inc. (NYSE:FI)

Key Points

• Spectrum Wealth Counsel LLC has invested **$1 million** in **Fiserv, Inc.**, acquiring **4,540 shares** of the business services provider's stock.
• Fiserv recently reported **earnings per share** of **$2.47** for the quarter, exceeding analysts' expectations and showing an **8.0%** revenue increase year-over-year.
• Analyst price targets for Fiserv have been adjusted downward by several firms, with Barclays reducing their target from **$265** to **$230**, highlighting a consensus rating of **"Moderate Buy."**

Spectrum Wealth Counsel LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,540 shares of the business services provider's stock, valued at approximately $1,003,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its holdings in Fiserv by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after acquiring an additional 44 shares during the last quarter. Rappaport Reiches Capital Management LLC boosted its holdings in Fiserv by 3.9% in the first quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock valued at $282,000 after acquiring an additional 48 shares during the last quarter. Adero Partners LLC boosted its holdings in Fiserv by 2.3% in the first quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock valued at $550,000 after acquiring an additional 55 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in Fiserv by 5.6% in the first quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock valued at $235,000 after acquiring an additional 56 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Fiserv by 6.4% in the first quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider's stock valued at $206,000 after acquiring an additional 56 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE FI opened at $142.00 on Friday. The stock has a market cap of $78.73 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.87 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The stock's 50-day moving average is $165.03 and its 200 day moving average is $194.87.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays reduced their target price on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group dropped their price target on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Citigroup lowered their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial upped their price target on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, KeyCorp decreased their price target on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $210.54.

Insider Transactions at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred 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 transaction, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Company 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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