Cornerstone Wealth Group LLC Increases Stake in Fiserv, Inc. (NYSE:FI)

Cornerstone Wealth Group LLC lifted its stake in Fiserv, Inc. (NYSE:FI) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,303 shares of the business services provider’s stock after buying an additional 78 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Fiserv were worth $414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FI. Price T Rowe Associates Inc. MD increased its stake in Fiserv by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after acquiring an additional 417,459 shares during the last quarter. Capital World Investors grew its holdings in shares of Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after purchasing an additional 64,332 shares in the last quarter. Legal & General Group Plc lifted its position in Fiserv by 1.9% during the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after purchasing an additional 85,598 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Fiserv by 67.2% during the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after purchasing an additional 1,306,901 shares during the period. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FI shares. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their price objective on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Buying and Selling at Fiserv

In other news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % 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. In other news, EVP John Gibbons sold 18,890 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,890 shares of company stock worth $46,968,117. 0.75% of the stock is currently owned by insiders.

Fiserv Stock Down 1.0 %

NYSE:FI opened at $197.91 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a twelve month low of $113.11 and a twelve month high of $204.50. The company has a market cap of $112.59 billion, a PE ratio of 38.06, a P/E/G ratio of 1.53 and a beta of 0.93. The company’s 50 day moving average is $183.22 and its two-hundred day moving average is $163.96.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. Analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current 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.