Modern Wealth Management LLC Invests $214,000 in Fiserv, Inc. (NYSE:FI)

Modern Wealth Management LLC bought a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,042 shares of the business services provider’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FI. Quest Partners LLC boosted its holdings in Fiserv by 72,800.0% in the third quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 728 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Fiserv by 2,490,200.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,903 shares of the business services provider’s stock valued at $4,474,000 after buying an additional 24,902 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Fiserv by 18.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,088 shares of the business services provider’s stock valued at $1,633,000 after buying an additional 1,405 shares during the last quarter. FORA Capital LLC acquired a new stake in Fiserv during the 3rd quarter worth $328,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fiserv by 20.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 264,546 shares of the business services provider’s stock valued at $47,526,000 after acquiring an additional 45,596 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 1.4 %

Fiserv stock opened at $216.15 on Friday. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The stock’s fifty day moving average is $222.00 and its two-hundred day moving average is $207.67.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has authorized a share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

FI has been the topic of a number of research analyst reports. KeyCorp lifted their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com started coverage on Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Citigroup lifted their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $242.32.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is 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.