First Trust Direct Indexing L.P. Purchases New Stake in Fiserv, Inc. (NYSE:FI)

First Trust Direct Indexing L.P. acquired a new position in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,828 shares of the business services provider’s stock, valued at approximately $1,970,000.

A number of other hedge funds have also recently added to or reduced their stakes in FI. West Oak Capital LLC acquired a new position in shares of Fiserv during the fourth quarter valued at $27,000. Halpern Financial Inc. acquired a new position in shares of Fiserv during the fourth quarter valued at $27,000. Fortitude Family Office LLC bought a new stake in shares of Fiserv during the fourth quarter valued at about $28,000. Hollencrest Capital Management lifted its stake in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Fiserv during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 0.3 %

Shares of FI stock traded up $0.42 during trading hours on Thursday, reaching $149.28. 423,678 shares of the company’s stock were exchanged, compared to its average volume of 2,541,156. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average is $152.79 and its 200-day moving average is $138.72. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The company has a market cap of $87.34 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.23 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (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 business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company posted $1.58 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial upped their price objective on shares of Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. BMO Capital Markets increased their price objective on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Mizuho restated a “buy” rating and issued a $156.00 price objective on shares of Fiserv in a report on Wednesday, March 27th. Oppenheimer upgraded Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a report on Thursday, January 11th. Finally, B. Riley increased their price objective on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 111,575 shares of company stock valued at $17,022,387. 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.