Prestige Wealth Management Group LLC Buys 1,494 Shares of Fiserv, Inc. (NYSE:FI)

Prestige Wealth Management Group LLC boosted its stake in Fiserv, Inc. (NYSE:FI) by 774.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,687 shares of the business services provider’s stock after purchasing an additional 1,494 shares during the period. Prestige Wealth Management Group LLC’s holdings in Fiserv were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FI. Wellington Shields & Co. LLC bought a new position in shares of Fiserv during the 1st quarter valued at approximately $25,000. ZRC Wealth Management LLC purchased a new position in Fiserv during the first quarter valued at approximately $32,000. RE Dickinson Investment Advisors LLC bought a new position in shares of Fiserv in the fourth quarter worth approximately $27,000. GW&K Investment Management LLC purchased a new stake in shares of Fiserv in the fourth quarter worth $27,000. Finally, Family Firm Inc. bought a new stake in shares of Fiserv during the 2nd quarter valued at $31,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen increased their target price on Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a report on Thursday. BTIG Research assumed coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.32.

Fiserv Stock Down 1.4 %

Shares of Fiserv stock traded down $2.49 on Friday, hitting $170.02. 2,443,937 shares of the company’s stock traded hands, compared to its average volume of 2,472,752. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $175.47. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a market cap of $99.48 billion, a P/E ratio of 31.78, a PEG ratio of 1.41 and a beta of 0.93. The firm’s 50-day moving average is $161.29 and its 200 day moving average is $155.04.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. Fiserv’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Equities analysts anticipate that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’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 transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Insiders sold a total of 93,690 shares of company stock worth $14,833,215 in the last three months. 0.75% of the stock is owned by 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.