Wedmont Private Capital Acquires 306 Shares of Fiserv, Inc. (NYSE:FI)

Wedmont Private Capital boosted its holdings in Fiserv, Inc. (NYSE:FI) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,889 shares of the business services provider’s stock after purchasing an additional 306 shares during the period. Wedmont Private Capital’s holdings in Fiserv were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FI. Vega Investment Solutions bought a new position in Fiserv in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in Fiserv in the fourth quarter valued at $28,000. Marshall Investment Management LLC acquired a new stake in Fiserv in the fourth quarter valued at $29,000. Compass Financial Services Inc acquired a new stake in Fiserv in the fourth quarter valued at $31,000. Finally, Campbell Capital Management Inc. acquired a new stake in Fiserv in the fourth quarter valued at $37,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

NYSE:FI opened at $166.90 on Monday. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The firm has a market cap of $92.54 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.90. The firm’s 50-day simple moving average is $185.54 and its 200 day simple moving average is $205.35. 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 (NYSE:FI) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the firm earned $1.88 earnings per share. Fiserv’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has approved a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Wall Street Zen assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Piper Sandler set a $218.00 price target on shares of Fiserv in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Finally, Tigress Financial increased their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.27.

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.