Oppenheimer Asset Management Inc. Buys 34,109 Shares of Fiserv, Inc. (NYSE:FI)

Oppenheimer Asset Management Inc. increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 60.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 90,307 shares of the business services provider’s stock after buying an additional 34,109 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fiserv were worth $13,459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in Fiserv during the 4th quarter worth approximately $5,885,279,000. Capital World Investors bought a new position in Fiserv during the fourth quarter worth about $2,329,623,000. Veritas Asset Management LLP acquired a new stake in Fiserv in the 4th quarter worth about $927,298,000. Parnassus Investments LLC acquired a new position in shares of Fiserv during the 4th quarter worth approximately $900,674,000. Finally, Norges Bank bought a new position in shares of Fiserv during the fourth quarter worth approximately $874,377,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Fiserv stock opened at $174.89 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $102.33 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 1.38 and a beta of 0.93. The stock’s 50 day moving average price is $163.69 and its two-hundred day moving average price is $155.84. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $175.48.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FI shares. Wells Fargo & Company increased their price target on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Mizuho boosted their price target on Fiserv from $156.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. BTIG Research started coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.32.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Insiders sold a total of 90,890 shares of company stock worth $14,416,687 over the last quarter. 0.75% of the stock is currently owned by corporate 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.