Spinnaker Trust Takes Position in Fiserv, Inc. (NYSE:FI)

Spinnaker Trust purchased a new stake in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,566 shares of the business services provider’s stock, valued at approximately $1,005,000.

Other hedge funds have also made changes to their positions in the company. West Oak Capital LLC purchased a new position in shares of Fiserv in the fourth quarter valued at $27,000. Halpern Financial Inc. purchased a new stake in Fiserv during the 4th quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in Fiserv during the 4th quarter worth about $28,000. Hollencrest Capital Management increased its position in Fiserv by 75.8% during the 3rd quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Fiserv during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. KeyCorp lifted their price objective on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley raised their price target on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lifted their price objective on Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, March 25th. Finally, Mizuho reissued a “buy” rating and set a $156.00 price target on shares of Fiserv in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 111,575 shares of company stock worth $17,022,387. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI traded up $2.60 during mid-day trading on Friday, reaching $155.89. The company’s stock had a trading volume of 3,196,489 shares, compared to its average volume of 2,315,910. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The stock has a market cap of $91.21 billion, a P/E ratio of 29.14, a PEG ratio of 1.24 and a beta of 0.91. The business has a 50-day simple moving average of $152.54 and a two-hundred day simple moving average of $137.74. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. As a group, equities research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

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.