Premier Path Wealth Partners LLC Has $606,000 Position in Fiserv, Inc. (NYSE:FI)

Premier Path Wealth Partners LLC lifted its holdings in Fiserv, Inc. (NYSE:FI) by 10.4% during the 1st quarter, HoldingsChannel reports. The fund owned 2,745 shares of the business services provider’s stock after acquiring an additional 259 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Fiserv were worth $606,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FI. Norges Bank acquired a new position in shares of Fiserv in the fourth quarter valued at about $1,406,452,000. GAMMA Investing LLC grew its stake in shares of Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock valued at $843,991,000 after acquiring an additional 3,804,358 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fiserv in the fourth quarter valued at about $614,982,000. Kovitz Investment Group Partners LLC grew its stake in shares of Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after acquiring an additional 2,174,025 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after acquiring an additional 2,153,554 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 1.4%

Shares of NYSE FI opened at $161.19 on Friday. The company has a 50 day simple moving average of $178.13 and a 200 day simple moving average of $202.10. The firm has a market cap of $89.37 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90. Fiserv, Inc. has a 1 year low of $146.46 and a 1 year high of $238.59. 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 (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, beating analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $1.88 EPS. On average, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm’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 transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s 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 transaction, the insider now owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FI shares. Morgan Stanley restated an “overweight” rating and issued a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. The Goldman Sachs Group decreased their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Keefe, Bruyette & Woods reduced their price objective on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Mizuho set a $200.00 price objective on shares of Fiserv in a research note on Thursday, May 15th. Finally, Truist Financial initiated coverage on shares of Fiserv in a research note on Monday, June 2nd. They set a “buy” rating and a $181.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.23.

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.