Fiserv, Inc. (NYSE:FI) Shares Purchased by NewSquare Capital LLC

NewSquare Capital LLC raised its position in Fiserv, Inc. (NYSE:FI) by 3.1% during the first quarter, HoldingsChannel.com reports. The firm owned 33,910 shares of the business services provider’s stock after buying an additional 1,019 shares during the quarter. NewSquare Capital LLC’s holdings in Fiserv were worth $7,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Fiserv in the fourth quarter valued at $257,000. Principal Financial Group Inc. boosted 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 valued at $190,875,000 after buying an additional 7,183 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Fiserv during the fourth quarter valued at about $79,000. American National Bank & Trust increased its position in shares of 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 last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Fiserv by 20.2% in 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 in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The shares were 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. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on FI shares. BMO Capital Markets decreased their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Monness Crespi & Hardt cut Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Wednesday, April 9th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. Redburn Atlantic restated a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. Finally, Truist Financial assumed coverage on Fiserv in a report on Monday, June 2nd. They set a “buy” rating and a $181.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $220.27.

Fiserv Trading Up 0.9%

NYSE:FI opened at $166.90 on Monday. The stock has a fifty day simple moving average of $185.54 and a 200 day simple moving average of $205.35. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a market capitalization 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 1-year low of $146.25 and a 1-year high of $238.59.

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

Fiserv declared that its board has authorized a stock 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 repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.