Renasant Bank Acquires 2,764 Shares of Fiserv, Inc. $FI

Renasant Bank boosted its holdings in Fiserv, Inc. (NYSE:FI) by 64.2% during the second quarter, HoldingsChannel.com reports. The fund owned 7,069 shares of the business services provider’s stock after purchasing an additional 2,764 shares during the period. Renasant Bank’s holdings in Fiserv were worth $1,219,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FI. Accredited Investors Inc. grew its position in Fiserv by 100.6% in the second quarter. Accredited Investors Inc. now owns 3,738 shares of the business services provider’s stock valued at $644,000 after acquiring an additional 1,875 shares during the period. Tobam bought a new position in shares of Fiserv during the second quarter valued at $303,000. M&G PLC lifted its holdings in shares of Fiserv by 32.9% during the second quarter. M&G PLC now owns 27,553 shares of the business services provider’s stock valued at $4,739,000 after acquiring an additional 6,819 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Fiserv by 21.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,139 shares of the business services provider’s stock valued at $196,000 after purchasing an additional 204 shares in the last quarter. Finally, Ironwood Investment Counsel LLC grew its holdings in shares of Fiserv by 14.1% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 45,207 shares of the business services provider’s stock worth $7,794,000 after purchasing an additional 5,596 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

FI opened at $63.66 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.09. The stock has a market capitalization of $34.24 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. The company’s 50 day simple moving average is $115.84 and its 200-day simple moving average is $144.14. Fiserv, Inc. has a one year low of $60.95 and a one year high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The firm had revenue of $4.32 billion during the quarter. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FI shares. Barclays set a $175.00 price target on shares of Fiserv and gave the company an “overweight” rating in a report on Monday, July 28th. Royal Bank Of Canada set a $85.00 price objective on shares of Fiserv and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fiserv in a research note on Wednesday, October 8th. William Blair downgraded Fiserv from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 29th. Finally, Wells Fargo & Company raised Fiserv to a “hold” rating in a report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $127.28.

Insider Buying and Selling at Fiserv

In other news, Director Lance M. Fritz purchased 10,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $65.18 per share, with a total value of $651,800.00. Following the completion of the purchase, the director directly owned 13,086 shares of the company’s stock, valued at $852,945.48. The trade was a 324.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by insiders.

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.