Spinnaker Trust Makes New Investment in Fiserv, Inc. (NYSE:FI)

Spinnaker Trust bought a new stake in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,566 shares of the business services provider’s stock, valued at approximately $1,005,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Fiserv in the 3rd quarter worth about $5,705,241,000. California Public Employees Retirement System purchased a new stake in Fiserv in the 4th quarter worth about $423,780,000. Pittenger & Anderson Inc. purchased a new stake in Fiserv in the 4th quarter worth about $400,079,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Fiserv in the 4th quarter worth about $422,884,000. Finally, Nordea Investment Management AB bought a new position in Fiserv in the 4th quarter worth about $351,525,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FI shares. Robert W. Baird upped their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday. Evercore ISI restated an “outperform” rating and issued a $185.00 target price on shares of Fiserv in a research note on Tuesday, March 26th. UBS Group upped their target price on shares of Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley upped their target price on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets upped their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.33.

Fiserv Stock Performance

Shares of NYSE FI traded up $2.60 during midday trading on Friday, reaching $155.89. The company had a trading volume of 3,196,489 shares, compared to its average volume of 2,315,910. The business’s 50-day simple moving average is $152.54 and its 200 day simple moving average is $137.74. The stock has a market cap of $91.21 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.24 and a beta of 0.91. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. 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 posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $1.58 earnings per share. On average, analysts forecast that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,477,911.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 over the last 90 days. Insiders own 0.75% of the company’s stock.

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.