RIA Advisory Group LLC Invests $1.29 Million in Fiserv, Inc. (NYSE:FI)

RIA Advisory Group LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI) during the third quarter, HoldingsChannel reports. The firm purchased 7,171 shares of the business services provider’s stock, valued at approximately $1,288,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FI. Quent Capital LLC grew its position in Fiserv by 5.9% in the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after purchasing an additional 68 shares in the last quarter. Nwam LLC bought a new position in shares of Fiserv in the 1st quarter worth $239,000. M&G Plc bought a new position in shares of Fiserv in the 1st quarter worth $10,068,000. Acadian Asset Management LLC grew its holdings in shares of Fiserv by 377.3% during the 1st quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after purchasing an additional 44,776 shares during the last quarter. Finally, Ironsides Asset Advisors LLC increased its position in shares of Fiserv by 11.6% in the first quarter. Ironsides Asset Advisors LLC now owns 3,695 shares of the business services provider’s stock valued at $591,000 after acquiring an additional 385 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on FI shares. Oppenheimer started coverage on shares of Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective on the stock. KeyCorp increased their price objective on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna lifted their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $207.25.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.07 during trading hours on Friday, reaching $210.92. The company’s stock had a trading volume of 2,279,330 shares, compared to its average volume of 2,478,375. The stock has a market cap of $120.00 billion, a P/E ratio of 40.56, a P/E/G ratio of 1.63 and a beta of 0.92. Fiserv, Inc. has a one year low of $121.86 and a one year high of $215.50. The firm has a 50 day moving average price of $191.36 and a 200-day moving average price of $168.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $1.96 earnings per share. On average, analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This trade represents a 40.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,711 shares of company stock valued at $47,477,232 in the last ninety days. 0.75% of the stock is currently owned by company insiders.

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.