Chesley Taft & Associates LLC Increases Holdings in Fiserv, Inc. (NYSE:FI)

Chesley Taft & Associates LLC lifted its position in shares of Fiserv, Inc. (NYSE:FI) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,907 shares of the business services provider’s stock after acquiring an additional 432 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Fiserv were worth $9,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FI. West Oak Capital LLC purchased a new position in Fiserv in the 4th quarter valued at about $27,000. Halpern Financial Inc. purchased a new position in Fiserv in the 4th quarter valued at about $27,000. GW&K Investment Management LLC purchased a new position in Fiserv in the 4th quarter valued at about $27,000. RE Dickinson Investment Advisors LLC purchased a new position in Fiserv in the 4th quarter valued at about $27,000. Finally, Fortitude Family Office LLC bought a new position in shares of Fiserv during the fourth quarter worth about $28,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Down 0.4 %

Shares of NYSE:FI traded down $0.67 during trading on Thursday, reaching $149.08. 2,327,180 shares of the company traded hands, compared to its average volume of 2,502,709. The firm has a fifty day simple moving average of $150.76 and a 200 day simple moving average of $146.89. The firm has a market cap of $87.23 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last issued its 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. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FI has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on shares of Fiserv in a research report on Wednesday, June 12th. They set an “overweight” rating and a $180.00 price target on the stock. BMO Capital Markets increased their price target on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho increased their price target on shares of Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada increased their price target on shares of Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $165.00 price target on shares of Fiserv in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.44.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fiserv news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $24,304,390.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,729 shares of company stock worth $7,611,991. 0.75% of the stock is owned by corporate insiders.

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.