Cornerstone Select Advisors LLC Purchases 128 Shares of Fiserv, Inc. $FI

Cornerstone Select Advisors LLC boosted its position in shares of Fiserv, Inc. (NYSE:FI) by 3.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,642 shares of the business services provider’s stock after buying an additional 128 shares during the quarter. Cornerstone Select Advisors LLC’s holdings in Fiserv were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after purchasing an additional 2,033 shares in the last quarter. Jump Financial LLC raised its holdings in Fiserv by 116.0% in the 4th quarter. Jump Financial LLC now owns 8,148 shares of the business services provider’s stock worth $1,674,000 after purchasing an additional 4,375 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Fiserv by 3.4% in the 4th quarter. NewEdge Advisors LLC now owns 23,917 shares of the business services provider’s stock worth $4,913,000 after purchasing an additional 785 shares in the last quarter. GeoWealth Management LLC raised its holdings in Fiserv by 5.4% in the 4th quarter. GeoWealth Management LLC now owns 3,685 shares of the business services provider’s stock worth $757,000 after purchasing an additional 188 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Fiserv by 100.2% in the 4th quarter. First Trust Advisors LP now owns 234,392 shares of the business services provider’s stock worth $48,149,000 after purchasing an additional 117,302 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of FI stock opened at $136.76 on Monday. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59. The company’s 50-day moving average is $156.98 and its 200 day moving average is $187.22. The company has a market capitalization of $74.34 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the firm posted $2.13 EPS. Fiserv’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FI. Stephens decreased their price objective on shares of Fiserv from $240.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fiserv in a report on Thursday, July 17th. They issued a “buy” rating and a $200.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Mizuho decreased their price objective on shares of Fiserv from $194.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, July 29th. Finally, Piper Sandler set a $218.00 price target on shares of Fiserv in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.08.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider owned 53,385 shares of the company’s stock, valued at $8,577,901.80. This trade represents 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 the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

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.