Asset Allocation & Management Company LLC Acquires New Position in Fiserv, Inc. (NYSE:FI)

Asset Allocation & Management Company LLC bought a new stake in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,091 shares of the business services provider’s stock, valued at approximately $224,000.

A number of other hedge funds have also modified their holdings of FI. Clean Yield Group increased its position in shares of Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after buying an additional 57 shares during the period. Kennebec Savings Bank acquired a new position in shares of Fiserv in the third quarter worth $40,000. Northwest Investment Counselors LLC acquired a new position in shares of Fiserv in the third quarter worth $44,000. Finally, Wolff Wiese Magana LLC boosted its holdings in Fiserv by 904.0% in the third quarter. Wolff Wiese Magana LLC now owns 251 shares of the business services provider’s stock worth $45,000 after purchasing an additional 226 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.1 %

Shares of NYSE FI traded up $0.17 during midday trading on Monday, hitting $200.68. The company’s stock had a trading volume of 558,211 shares, compared to its average volume of 2,030,789. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $209.64 and its two-hundred day moving average is $185.31. Fiserv, Inc. has a 12-month low of $135.97 and a 12-month high of $223.23. The firm has a market cap of $114.17 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. Fiserv’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. As a group, equities research analysts expect that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FI. KeyCorp increased their target price on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $255.00 price target on shares of Fiserv in a research note on Thursday, January 2nd. Compass Point began coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective on the stock. Oppenheimer raised their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Susquehanna lifted their price target on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.88.

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.