OLD National Bancorp IN Invests $584,000 in Fiserv, Inc. (NYSE:FI)

OLD National Bancorp IN acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,395 shares of the business services provider’s stock, valued at approximately $584,000.

A number of other hedge funds have also modified their holdings of FI. DAVENPORT & Co LLC increased its stake in shares of Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock worth $1,483,000 after purchasing an additional 2,002 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of Fiserv by 76.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 11,612 shares of the business services provider’s stock worth $1,312,000 after purchasing an additional 5,031 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Fiserv by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock worth $1,151,000 after purchasing an additional 1,859 shares in the last quarter. Private Trust Co. NA boosted its position in Fiserv by 60.4% during the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after acquiring an additional 821 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Fiserv by 1.0% during the third quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock worth $1,742,000 after acquiring an additional 147 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $24,477,911.47. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of analyst reports. Morgan Stanley raised their target price on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Citigroup raised their target price on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Stephens restated an “equal weight” rating and set a $165.00 target price on shares of Fiserv in a research report on Wednesday. StockNews.com started coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating for the company. Finally, BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Fiserv Stock Performance

NYSE:FI opened at $152.25 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The firm has a 50-day moving average of $152.28 and a two-hundred day moving average of $137.34. The stock has a market cap of $89.64 billion, a P/E ratio of 28.46, a PEG ratio of 1.27 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 EPS. On average, research analysts expect that Fiserv, Inc. will post 8.63 earnings per share for the current fiscal year.

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.