Farther Finance Advisors LLC Has $1.99 Million Holdings in Fiserv, Inc. (NYSE:FI)

Farther Finance Advisors LLC raised its holdings in Fiserv, Inc. (NYSE:FI) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,980 shares of the business services provider’s stock after buying an additional 1,411 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fiserv were worth $1,994,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Fiserv during the fourth quarter worth approximately $1,406,452,000. GAMMA Investing LLC raised its position in shares of Fiserv by 21,681.0% during the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Fiserv during the fourth quarter worth approximately $614,982,000. Kovitz Investment Group Partners LLC raised its position in shares of Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Fiserv by 65.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

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 stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider now 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 legal filing with the SEC, which is available at this link. 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 value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Analyst Ratings Changes

FI has been the topic of a number of research reports. BMO Capital Markets lowered their target price on Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Wednesday, April 9th. The Goldman Sachs Group decreased their price target on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a report on Monday, May 19th. Piper Sandler set a $218.00 price target on Fiserv in a report on Friday, April 25th. Finally, Tigress Financial upped their price target on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Two research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.27.

Fiserv Stock Up 1.2%

Shares of NYSE FI opened at $168.89 on Wednesday. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The business’s fifty day moving average price is $183.39 and its 200-day moving average price is $204.72. The stock has a market capitalization of $93.64 billion, a PE ratio of 31.33, a P/E/G ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 EPS. On average, equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

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

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.