King Wealth Management Group Purchases Shares of 1,154 Fiserv, Inc. (NYSE:FI)

King Wealth Management Group bought a new stake in Fiserv, Inc. (NYSE:FI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,154 shares of the business services provider’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after acquiring an additional 1,306,901 shares during the period. Capital World Investors raised its holdings in shares of Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after buying an additional 1,303,078 shares in the last quarter. Maj Invest Holding A S purchased a new stake in shares of Fiserv in the 3rd quarter valued at $172,993,000. Manning & Napier Advisors LLC bought a new stake in shares of Fiserv in the 2nd quarter valued at about $105,031,000. Finally, American Century Companies Inc. lifted its holdings in Fiserv by 1,642.5% in the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock worth $74,556,000 after buying an additional 471,531 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FI shares. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. B. Riley lifted their price target on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer began coverage on shares of Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Finally, Stephens boosted their price target on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $207.25.

Fiserv Price Performance

FI stock opened at $210.87 on Friday. The stock has a 50-day moving average price of $189.77 and a two-hundred day moving average price of $167.73. Fiserv, Inc. has a 1 year low of $121.86 and a 1 year high of $215.50. The stock has a market cap of $119.97 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,711 shares of company stock valued at $47,477,232 over the last quarter. 0.75% of the stock is owned by company insiders.

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.