Kingswood Wealth Advisors LLC Buys 4,767 Shares of Fiserv, Inc. (NYSE:FI)

Kingswood Wealth Advisors LLC increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 83.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,480 shares of the business services provider’s stock after acquiring an additional 4,767 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Fiserv were worth $2,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its holdings in Fiserv by 0.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider’s stock valued at $3,721,000 after buying an additional 75 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after acquiring an additional 2,033 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Fiserv during the 4th quarter valued at approximately $11,330,000. Van ECK Associates Corp grew its holdings in shares of Fiserv by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 22,699 shares of the business services provider’s stock valued at $4,663,000 after purchasing an additional 594 shares in the last quarter. Finally, Allworth Financial LP increased its position in Fiserv by 49.3% in the fourth quarter. Allworth Financial LP now owns 7,176 shares of the business services provider’s stock worth $1,503,000 after purchasing an additional 2,368 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several research reports. UBS Group lowered their price objective on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods decreased their target price on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Citigroup lowered their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a report on Friday, April 25th. Susquehanna reduced their price objective on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Finally, Barclays decreased their price objective on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.23.

Fiserv Trading Down 1.4%

Shares of FI opened at $161.19 on Thursday. The firm has a market capitalization of $89.37 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.01 and a beta of 0.90. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company has a 50-day moving average of $178.99 and a 200 day moving average of $202.49.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. On average, research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of the business’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 completion of the sale, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $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 company insiders.

Fiserv Company 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.