Welch & Forbes LLC purchased a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 912,559 shares of the business services provider's stock, valued at approximately $121,224,000. Fiserv accounts for approximately 1.8% of Welch & Forbes LLC's portfolio, making the stock its 12th largest position. Welch & Forbes LLC owned 0.15% of Fiserv at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of FI. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $1,217,000. Apollon Wealth Management LLC purchased a new stake in shares of Fiserv in the fourth quarter worth $2,571,000. Lincoln National Corp bought a new position in shares of Fiserv during the fourth quarter valued at $301,000. Fielder Capital Group LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $271,000. Finally, Machina Capital S.A.S. bought a new position in Fiserv in the 4th quarter worth about $744,000. Institutional investors own 90.98% of the company's stock.
Analyst Upgrades and Downgrades
FI has been the subject of a number of analyst reports. TD Cowen raised their price objective on shares of Fiserv from $167.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. B. Riley lifted their target price on Fiserv from $176.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Evercore ISI reaffirmed an "outperform" rating and set a $185.00 price target on shares of Fiserv in a report on Tuesday, March 26th. BNP Paribas raised Fiserv from a "neutral" rating to an "outperform" rating in a research report on Wednesday, January 10th. Finally, Mizuho reissued a "buy" rating and issued a $156.00 target price on shares of Fiserv in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and an average target price of $164.33.
Read Our Latest Stock Analysis on Fiserv
Insider Buying and Selling at Fiserv
In other news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 111,575 shares of company stock worth $17,022,387 over the last 90 days. 0.75% of the stock is owned by insiders.
Fiserv Price Performance
FI stock traded up $1.37 during mid-day trading on Monday, hitting $150.59. The company had a trading volume of 2,132,449 shares, compared to its average volume of 2,567,719. The company has a market capitalization of $88.11 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a 50-day moving average price of $152.73 and a 200 day moving average price of $139.66. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99.
Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current year.
About Fiserv
(
Free Report)
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.
Further Reading
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