Abacus Wealth Partners LLC Increases Position in Fiserv, Inc. (NYSE:FI)

Abacus Wealth Partners LLC lifted its position in shares of Fiserv, Inc. (NYSE:FI) by 241.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,534 shares of the business services provider’s stock after purchasing an additional 3,205 shares during the period. Fiserv comprises approximately 0.2% of Abacus Wealth Partners LLC’s portfolio, making the stock its 28th largest position. Abacus Wealth Partners LLC’s holdings in Fiserv were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock worth $190,875,000 after purchasing an additional 7,183 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Fiserv during the fourth quarter worth approximately $79,000. American National Bank & Trust lifted its stake in Fiserv by 2.4% in the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock valued at $18,956,000 after buying an additional 1,983 shares during the last quarter. Evercore Wealth Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $54,981,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Fiserv during the fourth quarter worth approximately $11,330,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup reduced their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Mizuho set a $200.00 target price on shares of Fiserv in a research note on Thursday, May 15th. Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Wednesday, April 9th. Truist Financial began coverage on Fiserv in a research note on Monday, June 2nd. They issued a “buy” rating and a $181.00 target price on the stock. Finally, Piper Sandler set a $218.00 price target on Fiserv in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $220.27.

Insider Buying and Selling at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. The trade was a 4.49% 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.

Fiserv Trading Up 1.2%

NYSE:FI opened at $164.94 on Tuesday. The company has a market capitalization of $91.45 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59. The stock has a fifty day simple moving average of $180.92 and a 200-day simple moving average of $203.05. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

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

Fiserv announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.