Spectrum Wealth Counsel LLC Invests $1 Million in Fiserv, Inc. (NYSE:FI)

Spectrum Wealth Counsel LLC acquired a new position in Fiserv, Inc. (NYSE:FI) during the first quarter, according to its most recent filing with the SEC. The firm acquired 4,540 shares of the business services provider’s stock, valued at approximately $1,003,000.

A number of other large investors have also recently made changes to their positions in the business. Investment Management Corp VA ADV grew its position in shares of Fiserv by 24.4% in the 1st quarter. Investment Management Corp VA ADV now owns 2,857 shares of the business services provider’s stock worth $631,000 after buying an additional 560 shares during the last quarter. Empirical Finance LLC grew its position in shares of Fiserv by 1.4% in the 1st quarter. Empirical Finance LLC now owns 20,684 shares of the business services provider’s stock worth $4,568,000 after buying an additional 288 shares during the last quarter. TD Asset Management Inc grew its position in shares of Fiserv by 56.9% in the 1st quarter. TD Asset Management Inc now owns 436,238 shares of the business services provider’s stock worth $96,334,000 after buying an additional 158,270 shares during the last quarter. Marietta Investment Partners LLC grew its position in shares of Fiserv by 1.9% in the 1st quarter. Marietta Investment Partners LLC now owns 48,181 shares of the business services provider’s stock worth $10,640,000 after buying an additional 879 shares during the last quarter. Finally, Mediolanum International Funds Ltd grew its position in shares of Fiserv by 10.9% in the 1st quarter. Mediolanum International Funds Ltd now owns 245,454 shares of the business services provider’s stock worth $53,050,000 after buying an additional 24,143 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction dated 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 owned 25,385 shares of the company’s stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider directly owned 53,385 shares of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Fiserv Stock Up 1.4%

FI stock opened at $142.00 on Friday. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The business has a fifty day moving average price of $165.03 and a 200-day moving average price of $194.87. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.10. The stock has a market capitalization of $78.73 billion, a P/E ratio of 23.71, a P/E/G ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FI shares. KeyCorp dropped their price target on Fiserv from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday. Stephens dropped their price target on Fiserv from $240.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Fiserv from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday. Tigress Financial lifted their price target on Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Citigroup dropped their price target on Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.54.

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.