Marks Group Wealth Management Inc Purchases Shares of 61,176 Fiserv, Inc. (NYSE:FI)

Marks Group Wealth Management Inc acquired a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 61,176 shares of the business services provider’s stock, valued at approximately $8,127,000. Fiserv accounts for 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Apeiron RIA LLC boosted its holdings in shares of Fiserv by 2.9% during the third quarter. Apeiron RIA LLC now owns 3,217 shares of the business services provider’s stock worth $363,000 after purchasing an additional 90 shares during the period. Brighton Jones LLC grew its position in shares of Fiserv by 4.0% in the 3rd quarter. Brighton Jones LLC now owns 2,385 shares of the business services provider’s stock worth $269,000 after buying an additional 92 shares during the last quarter. Jacobi Capital Management LLC grew its position in shares of Fiserv by 0.9% in the 3rd quarter. Jacobi Capital Management LLC now owns 10,099 shares of the business services provider’s stock worth $1,141,000 after buying an additional 94 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Fiserv by 2.3% during the third quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the business services provider’s stock valued at $508,000 after buying an additional 100 shares during the period. Finally, Hollencrest Capital Management raised its holdings in shares of Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 111,575 shares of company stock valued at $17,022,387 over the last three months. 0.75% of the stock is owned by company insiders.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.18 during trading hours on Monday, reaching $148.80. The company’s stock had a trading volume of 2,743,240 shares, compared to its average volume of 2,516,318. 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, Inc. has a one year low of $109.11 and a one year high of $159.99. The firm has a 50 day moving average price of $151.90 and a 200-day moving average price of $136.94. The stock has a market cap of $87.61 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.21 and a beta of 0.91.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research report on Thursday, January 11th. BMO Capital Markets raised their price objective on shares of Fiserv from $152.00 to $157.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Mizuho reaffirmed a “buy” rating and set a $156.00 price objective on shares of Fiserv in a research report on Wednesday, March 27th. Barclays increased their target price on Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Stephens lifted their price target on Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

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.