Cary Street Partners Asset Management LLC Invests $3.11 Million in Fiserv, Inc. (NYSE:FI)

Cary Street Partners Asset Management LLC acquired a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,434 shares of the business services provider’s stock, valued at approximately $3,113,000.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Vanguard Group Inc. lifted its position in Fiserv by 1.6% in the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after purchasing an additional 789,232 shares during the period. Northern Trust Corp lifted its position in Fiserv by 2.7% in the third quarter. Northern Trust Corp now owns 6,416,853 shares of the business services provider’s stock worth $724,848,000 after purchasing an additional 168,286 shares during the period. Invesco Ltd. lifted its position in Fiserv by 5.2% in the third quarter. Invesco Ltd. now owns 5,207,615 shares of the business services provider’s stock worth $588,252,000 after purchasing an additional 258,036 shares during the period. California Public Employees Retirement System lifted its position in Fiserv by 1.8% in the third quarter. California Public Employees Retirement System now owns 3,340,624 shares of the business services provider’s stock worth $377,357,000 after purchasing an additional 60,176 shares during the period. Finally, Pittenger & Anderson Inc. bought a new position in shares of Fiserv during the fourth quarter valued at $400,079,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FI. Morgan Stanley lifted their price objective on Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Evercore ISI reissued an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a report on Tuesday, March 26th. BNP Paribas raised Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Jefferies Financial Group lifted their price objective on Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a report on Monday, March 25th. Finally, Oppenheimer raised Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Fiserv Trading Down 0.8 %

FI stock traded down $1.27 during midday trading on Wednesday, reaching $151.40. The stock had a trading volume of 881,970 shares, compared to its average volume of 2,539,456. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.24 and a beta of 0.91. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $159.99. The business has a fifty day simple moving average of $152.76 and a two-hundred day simple moving average of $138.65. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $4.88 billion during 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 company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 EPS. As a group, research analysts expect that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,209,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by company insiders.

Fiserv Company 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.