Foundations Investment Advisors LLC reduced its stake in Fiserve (NYSE: FI – Free Report) shares in the first quarter by 16.1%, according to its latest filing with the SEC. The institutional investor owned 4,716 shares in the business service provider after selling 905 shares during the period. Fiserve shares in Foundations Investment Advisors LLC were valued at $533,000 at the time of the latest filing with the SEC.
Many other hedge funds and other institutional investors have also increased or decreased their equity stakes recently. AMI Investment Management Inc. increased his stake in Fiserv shares by 33.6% in the first quarter. AMI Investment Management Inc. purchased an additional 7,047 shares in him last quarter and now owns 27,999 shares of the business services provider, valued at $2,839,000. American Century Companies increased its stake in Fiserve by 10.4% in the first quarter. American Century Companies Inc. purchased an additional 870 shares last quarter and now owns 9,227 shares of the business services provider, valued at $936,000. The Health Care of Ontario Pension Plan Trust Fund increased its holding of Fiserve shares by 158.2% in the first quarter. The Health Care of Ontario Pension Plan Trust Fund purchased an additional 590 shares last quarter and now owns 963 shares of the business service provider worth $98,000. Prudential PLC purchased a new position in Fiserve stock worth approximately $1,095,000 in the first quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in his Fiserv stock worth approximately $357,000 in the first quarter. 88.26% of the shares are held by institutional investors.
Phiserv Stock Up 0.1 %
The FI on Wednesday opened at $126.99. The stock has a market cap of $78.39 billion, trades for 33.51 times earnings, 1.37 times earnings, and 0.88 times beta. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt to equity ratio of 0.71. Fiserv hit a 52-week low of $89.26 and a 52-week high of $127.66. His 50-day simple moving average for this company is $119.25 and his 200-day simple moving average is $113.84.
Fiserv (NYSE:FI – Get Free Report) last reported earnings on Tuesday, April 25th. The business services provider reported his EPS of $1.58 for the quarter, beating analyst consensus expectations of $1.56 for him by $0.02. The business had sales of $4.55 billion in the quarter, compared with analyst expectations of $4.17 billion. Fiserv’s return on equity was 13.68% and net profit margin was 13.36%. The company’s revenue increased by 9.9% year-on-year. The company posted earnings per share of $1.40 in the year-ago quarter. Research analysts expect Fiserv, Inc.’s earnings per share for the current fiscal year to be 7.36 for the group as a whole.
Insider trading on Fiserv
In other Fiserve news, CFO Robert W. Howe sold 8,500 shares of the company in a deal on Friday, May 5. The shares were sold at an average price of $119.33 for a total transaction value of $1,014,305.00. After the sale was completed, the Chief Financial Officer became a direct owner of 133,491 shares of the company, valued at $15,929,481.03. The deal was disclosed in his SEC filings, which can be accessed at this link. In other news, COO Guy Chiarello sold 8,000 shares of the stock in a transaction on Monday, May 1. The shares were sold at an average price of $121.69 for a total transaction value of $973,520.00. Following the closing of the sale, the Chief Operating Officer will own directly 195,356 shares of the company, valued at $23,772,871.64. The transaction was disclosed in documents filed with the SEC and can be accessed on the SEC’s website. Also, Chief Financial Officer (CFO) Robert W. Howe sold 8,500 shares in a deal on Friday, May 5. The stock sold at an average price of $119.33, giving him a total trading value of $1,014,305.00. After the sale, the Chief Financial Officer now owns 133,491 shares of the company, valued at $15,929,481.03. Disclosure information regarding this sale can be found here. Insiders sold a total of 31,250 shares worth $3,725,540 in the past three months. Insiders own 1.00% of the company’s shares.
Wall Street analyst speaks out
Several equity analysts recently commented on the company. StockNews.com undertook coverage of his Fiserv in a research note on Tuesday, June 13th. They issued a “buy” rating on the stock. Robert W. Baird raised his price target on Fiserv from $138.00 to $145.00 in a research note on Wednesday, April 26th. Barclays raised its price target on Fiserv from $140.00 to $150.00 in a research note on Tuesday, April 11, giving the company an ‘overweight’ rating. Trust Financial raised its target price for Fiserv from $105.00 to $130.00 in a research note on Wednesday, April 26th. Finally, Citigroup raised its price target on Fiserve shares to $140.00 from $135.00 in a report on Wednesday, April 26. One equity research analyst gave the stock a sell rating, three gave a hold rating, and 14 assigned a buy rating. The company’s consensus rating is currently “Moderate Buy” with an average price target of $133.89, according to MarketBeat.com data.
Fiserv, Inc. and its subsidiaries provide payment and financial services technology worldwide. The company operates through acceptance, fintech, and payments segments. The Acceptance segment provides POS merchant acquisition and digital commerce services. mobile payment service. Security and Fraud Prevention Products. Carat, an omnichannel commerce solution. Clover is his cloud-based POS and business management platform. Clover Connect, an independent software vendor platform.
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