Forte Capital LLC ADV Makes New Investment in Fiserv, Inc. (NYSE:FI)

Forte Capital LLC ADV bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,047 shares of the business services provider’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management boosted its stake in Fiserv by 75.8% in 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. West Oak Capital LLC acquired a new stake in shares of Fiserv in the 4th quarter worth $27,000. Halpern Financial Inc. purchased a new position in Fiserv during the 4th quarter worth $27,000. Fortitude Family Office LLC acquired a new position in Fiserv during the 4th quarter valued at about $28,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Fiserv in the fourth quarter valued at about $31,000. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv 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 sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,477,911.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 in the last 90 days. 0.75% of the stock is owned by insiders.

Fiserv Price Performance

Fiserv stock traded up $0.05 during trading on Friday, reaching $149.22. The company had a trading volume of 2,942,846 shares, compared to its average volume of 2,577,646. The firm’s 50-day simple moving average is $152.74 and its 200 day simple moving average is $139.04. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The firm has a market capitalization of $87.31 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on FI. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a research report on Thursday, January 11th. Morgan Stanley lifted their price objective on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Citigroup upped their target price on Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Mizuho reaffirmed a “buy” rating and set a $156.00 price target on shares of Fiserv in a research report on Wednesday, March 27th. Finally, BMO Capital Markets increased their price objective on Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

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.