Axxcess Wealth Management LLC Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Axxcess Wealth Management LLC decreased its position in Fiserv, Inc. (NYSE:FI) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,245 shares of the business services provider’s stock after selling 741 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Fiserv were worth $2,719,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Fiserv by 0.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after purchasing an additional 417,459 shares in the last quarter. Capital World Investors grew its stake in shares of Fiserv by 7.4% during the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after acquiring an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after acquiring an additional 64,332 shares during the last quarter. Veritas Asset Management LLP acquired a new position in shares of Fiserv in the fourth quarter worth about $927,298,000. Finally, Parnassus Investments LLC purchased a new position in Fiserv in the fourth quarter valued at about $900,674,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their price target on shares of Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. B. Riley increased their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $154.00 to $175.00 in a report on Monday, July 22nd. Finally, TD Cowen upped their target price on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.32.

Insider Transactions at Fiserv

In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,890 shares of company stock valued at $10,853,407. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Trading Down 0.0 %

Fiserv stock opened at $175.34 on Wednesday. The firm has a 50-day moving average price of $164.66 and a two-hundred day moving average price of $156.26. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $176.48. The firm has a market capitalization of $102.59 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current year.

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.