Redmont Wealth Advisors LLC Makes New Investment in Fiserv, Inc. (NYSE:FI)

Redmont Wealth Advisors LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 231 shares of the business services provider’s stock, valued at approximately $37,000.

Several other hedge funds have also modified their holdings of FI. West Oak Capital LLC purchased a new position in shares of Fiserv during the fourth quarter worth about $27,000. Halpern Financial Inc. purchased a new position in shares of Fiserv during the fourth quarter worth about $27,000. RE Dickinson Investment Advisors LLC acquired a new stake in Fiserv in the fourth quarter valued at about $27,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter worth approximately $27,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Fiserv during the 4th quarter worth approximately $28,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. BMO Capital Markets boosted their price objective on shares of Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Fiserv in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their target price on shares of Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a report on Monday, March 25th. Finally, Susquehanna upped their target price on shares of Fiserv from $175.00 to $180.00 and gave the company a “positive” rating in a research note on Monday, March 25th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $165.44.

Fiserv Trading Down 0.4 %

Shares of NYSE:FI traded down $0.60 during mid-day trading on Wednesday, hitting $148.79. The stock had a trading volume of 1,142,547 shares, compared to its average volume of 2,487,834. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $87.06 billion, a PE ratio of 27.81, a P/E/G ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The company’s 50 day moving average is $150.66 and its 200-day moving average is $147.38.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $1.58 EPS. Fiserv’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Fiserv, Inc. will post 8.69 EPS for the current year.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,847,871.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fiserv news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 23,929 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,847,871.21. The disclosure for this sale can be found here. Insiders sold a total of 50,729 shares of company stock valued at $7,611,991 in the last ninety days. Company insiders own 0.75% of the company’s stock.

About Fiserv

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.