Fiserv, Inc. (NYSE:FI) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC increased its position in Fiserv, Inc. (NYSE:FI) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 20,524 shares of the business services provider’s stock after purchasing an additional 1,619 shares during the quarter. Park Avenue Securities LLC’s holdings in Fiserv were worth $3,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Meritage Portfolio Management bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $995,000. GHP Investment Advisors Inc. acquired a new position in Fiserv during the 4th quarter worth $78,000. Birch Hill Investment Advisors LLC bought a new position in shares of Fiserv in the fourth quarter worth $84,583,000. Graypoint LLC bought a new position in shares of Fiserv in the fourth quarter worth $3,732,000. Finally, Norden Group LLC acquired a new position in shares of Fiserv during the first quarter valued at $2,359,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE:FI traded up $2.43 during trading on Thursday, hitting $158.65. 161,331 shares of the stock were exchanged, compared to its average volume of 2,517,029. The company has a market capitalization of $92.83 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $165.56. The company’s fifty day simple moving average is $152.78 and its 200-day simple moving average is $151.21.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.81 EPS. Sell-side analysts expect that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Guy Chiarello sold 24,000 shares of Fiserv 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 directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,800 shares of company stock worth $7,696,448. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FI. BMO Capital Markets upped their price target on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Fiserv from $169.00 to $176.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen lifted their price target on Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Citigroup raised Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.29.

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.