Robbins Farley Takes Position in Fiserv, Inc. (NYSE:FI)

Robbins Farley purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,564 shares of the business services provider’s stock, valued at approximately $3,529,000. Fiserv makes up approximately 2.1% of Robbins Farley’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FI. Vanguard Group Inc. purchased a new stake in Fiserv during the third quarter valued at $5,705,241,000. Morgan Stanley increased its position in Fiserv by 131.3% during the fourth quarter. Morgan Stanley now owns 9,980,646 shares of the business services provider’s stock valued at $1,008,744,000 after acquiring an additional 5,666,145 shares during the last quarter. Norges Bank purchased a new stake in Fiserv during the fourth quarter valued at $547,079,000. Moneta Group Investment Advisors LLC increased its position in Fiserv by 135,763.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,588,117 shares of the business services provider’s stock worth $463,721,000 after buying an additional 4,584,740 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in Fiserv in the 4th quarter worth approximately $351,525,000. 90.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FI has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Fiserv in a report on Saturday, February 3rd. They issued a “buy” rating on the stock. Tigress Financial boosted their price target on Fiserv from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. B. Riley upped their price objective on Fiserv from $152.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. BNP Paribas raised Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley upped their price objective on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $158.21.

Insider Activity

In other news, COO Guy Chiarello sold 63,646 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 111,575 shares of company stock valued at $17,022,387. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Up 1.2 %

Shares of FI stock traded up $1.71 during mid-day trading on Friday, hitting $148.62. The stock had a trading volume of 2,515,820 shares, compared to its average volume of 2,178,098. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The firm has a market capitalization of $87.50 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.91. The firm’s 50-day moving average is $151.81 and its two-hundred day moving average is $136.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.04. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 EPS. On average, analysts predict that Fiserv, Inc. will post 8.63 earnings per share for the current fiscal year.

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.