Quent Capital LLC Raises Stock Holdings in Fiserv, Inc. (NYSE:FI)

Quent Capital LLC increased its position in Fiserv, Inc. (NYSE:FI) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,070 shares of the business services provider’s stock after buying an additional 98 shares during the quarter. Quent Capital LLC’s holdings in Fiserv were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FI. Jacobi Capital Management LLC boosted its holdings in shares of Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock valued at $794,000 after buying an additional 44 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after buying an additional 45 shares in the last quarter. Catalina Capital Group LLC boosted its holdings in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after buying an additional 48 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after buying an additional 50 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FI has been the topic of a number of research reports. Piper Sandler set a $218.00 target price on shares of Fiserv in a report on Friday, April 25th. The Goldman Sachs Group dropped their target price on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. BMO Capital Markets dropped their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company upped their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $221.84.

Insider Activity

In related news, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was 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 of the company’s stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Fiserv Trading Up 1.7%

FI stock opened at $162.40 on Friday. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market capitalization of $90.04 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.52 and a beta of 0.97. The business has a 50 day simple moving average of $191.13 and a two-hundred day simple moving average of $207.19.

Fiserv (NYSE:FI) last posted 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. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. Research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs 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.