Accurate Wealth Management LLC Boosts Position in Fiserv, Inc. (NYSE:FI)

Accurate Wealth Management LLC raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,338 shares of the business services provider’s stock after buying an additional 73 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fiserv were worth $278,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Fiserv during the 4th quarter valued at about $257,000. Principal Financial Group Inc. lifted 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 buying an additional 7,183 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Fiserv in the 4th quarter worth approximately $79,000. American National Bank & Trust lifted 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 buying an additional 1,983 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted 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 buying an additional 1,288 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of FI stock opened at $167.87 on Thursday. The stock has a market cap of $93.07 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.52 and a beta of 0.90. The business’s fifty day moving average is $182.77 and its 200 day moving average is $204.46. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month 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 issued its quarterly earnings results 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 company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. Research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the company’s 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 in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FI shares. UBS Group dropped their target price on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Mizuho set a $200.00 target price on Fiserv in a research report on Thursday, May 15th. Tigress Financial lifted their price target on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Finally, Wall Street Zen began coverage on Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $220.27.

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.