Fiserv, Inc. (NYSE:FI) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,338 shares of the business services provider’s stock after acquiring an additional 241 shares during the period. Miracle Mile Advisors LLC’s holdings in Fiserv were worth $2,062,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Fiserv during the fourth quarter worth $257,000. Principal Financial Group Inc. raised its position in Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock worth $190,875,000 after acquiring an additional 7,183 shares during the period. Centricity Wealth Management LLC acquired a new position in Fiserv during the fourth quarter worth $79,000. American National Bank & Trust raised its position in Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock worth $18,956,000 after acquiring an additional 1,983 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in Fiserv by 20.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock worth $1,574,000 after acquiring an additional 1,288 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FI shares. Morgan Stanley reiterated an “overweight” rating and issued a $268.00 target price (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Keefe, Bruyette & Woods reduced their target price on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Truist Financial started coverage on shares of Fiserv in a research report on Monday, June 2nd. They issued a “buy” rating and a $181.00 target price for the company. Tigress Financial increased their target price on shares of Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Barclays reduced their target price on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $220.27.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Fiserv Stock Up 0.9%

Shares of NYSE:FI opened at $166.90 on Monday. The firm’s 50 day moving average price is $185.54 and its 200 day moving average price is $205.35. The stock has a market cap of $92.54 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share 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 company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.