Redmont Wealth Advisors LLC Purchases Shares of 231 Fiserv, Inc. (NYSE:FI)

Redmont Wealth Advisors LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 231 shares of the business services provider’s stock, valued at approximately $37,000.

A number of other hedge funds have also modified their holdings of the business. State of Alaska Department of Revenue grew its position in Fiserv by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 74,873 shares of the business services provider’s stock valued at $11,965,000 after buying an additional 300 shares during the last quarter. Woodmont Investment Counsel LLC acquired a new stake in Fiserv in the first quarter valued at $336,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in Fiserv in the first quarter valued at $234,000. Allspring Global Investments Holdings LLC lifted its holdings in Fiserv by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 948,232 shares of the business services provider’s stock valued at $151,547,000 after acquiring an additional 104,251 shares during the period. Finally, Tributary Capital Management LLC lifted its holdings in Fiserv by 8.9% in the first quarter. Tributary Capital Management LLC now owns 4,875 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 400 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Down 0.4 %

FI traded down $0.60 during midday trading on Wednesday, hitting $148.79. The company’s stock had a trading volume of 1,142,547 shares, compared to its average volume of 2,487,834. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The firm has a market cap of $87.06 billion, a P/E ratio of 27.81, a PEG ratio of 1.20 and a beta of 0.92. The firm has a 50-day moving average price of $150.66 and a two-hundred day moving average price of $147.38. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99.

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

Insider Buying and Selling at Fiserv

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their target price on Fiserv from $158.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their target price on Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a report on Monday, March 25th. Robert W. Baird raised their target price on Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI reissued an “outperform” rating and issued a $185.00 target price on shares of Fiserv in a report on Tuesday, March 26th. Finally, UBS Group lifted their price target on Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $165.44.

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.