Foster Group Inc. Purchases New Shares in Fiserv, Inc. (NYSE:FI)

Foster Group Inc. purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,004 shares of the business services provider’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at $257,000. Principal Financial Group Inc. raised its position in Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock worth $190,875,000 after purchasing an additional 7,183 shares during the period. Centricity Wealth Management LLC purchased a new stake in Fiserv in the 4th quarter worth about $79,000. American National Bank & Trust raised its position in Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock worth $18,956,000 after purchasing an additional 1,983 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in Fiserv by 20.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock worth $1,574,000 after purchasing an additional 1,288 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FI opened at $166.90 on Friday. The business’s 50-day moving average is $185.54 and its two-hundred day moving average is $205.52. 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 firm has a market capitalization of $92.54 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other 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 sale, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider now owns 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FI. The Goldman Sachs Group reduced their price target on Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Royal Bank of Canada set a $237.00 target price on Fiserv in a research note on Friday, April 25th. Redburn Atlantic reiterated a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Morgan Stanley reiterated an “overweight” rating and issued a $268.00 target price (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Finally, Mizuho set a $200.00 price target on shares of Fiserv in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.27.

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.