Cornerstone Wealth Group LLC Increases Holdings in Fiserv, Inc. (NYSE:FI)

Cornerstone Wealth Group LLC boosted its position in Fiserv, Inc. (NYSE:FI) by 12.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,681 shares of the business services provider’s stock after buying an additional 303 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Fiserv were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco LLC grew its stake in shares of Fiserv by 30.0% during the first quarter. Invesco LLC now owns 2,635 shares of the business services provider’s stock valued at $582,000 after buying an additional 608 shares during the last quarter. Berry Wealth Group LP boosted its holdings in Fiserv by 5.8% during the 1st quarter. Berry Wealth Group LP now owns 2,331 shares of the business services provider’s stock valued at $515,000 after acquiring an additional 127 shares during the period. LaFleur & Godfrey LLC grew its position in Fiserv by 11.7% during the 1st quarter. LaFleur & Godfrey LLC now owns 20,239 shares of the business services provider’s stock worth $4,469,000 after acquiring an additional 2,123 shares during the last quarter. Palisade Asset Management LLC lifted its position in Fiserv by 0.8% in the first quarter. Palisade Asset Management LLC now owns 12,353 shares of the business services provider’s stock valued at $2,728,000 after purchasing an additional 103 shares during the last quarter. Finally, Legacy Advisors LLC lifted its position in Fiserv by 17.0% in the first quarter. Legacy Advisors LLC now owns 12,475 shares of the business services provider’s stock valued at $2,755,000 after purchasing an additional 1,810 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 1.3%

Shares of NYSE:FI opened at $172.78 on Wednesday. The stock’s 50-day simple moving average is $175.60 and its two-hundred day simple moving average is $201.16. The stock has a market capitalization of $95.79 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.06 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 company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10.

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

Insiders Place Their Bets

In related news, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew Gelb sold 5,652 shares of the business’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 transaction, the executive vice president now owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen assumed coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating for the company. UBS Group decreased their price objective on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Jefferies Financial Group reduced their price target on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group cut their price objective on Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Finally, Monness Crespi & Hardt lowered Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has issued 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.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target 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.