W.H. Cornerstone Investments Inc. Makes New Investment in Fiserv, Inc. (NYSE:FI)

W.H. Cornerstone Investments Inc. bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the 3rd quarter, Holdings Channel.com reports. The fund bought 1,135 shares of the business services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FI. Wellington Shields & Co. LLC acquired a new position in Fiserv in the first quarter valued at about $25,000. Clean Yield Group increased its holdings in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares during the period. Cedar Mountain Advisors LLC raised its position in shares of Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after buying an additional 57 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Fiserv during the 2nd quarter worth approximately $31,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Fiserv during the 3rd quarter worth approximately $44,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of FI opened at $200.82 on Tuesday. The business has a 50-day moving average of $184.49 and a 200-day moving average of $164.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $114.25 billion, a price-to-earnings ratio of 38.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.92. Fiserv, Inc. has a 1 year low of $118.42 and a 1 year high of $204.50.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 EPS. As a group, equities research analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FI shares. William Blair upgraded shares of Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Susquehanna boosted their price target on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Barclays raised their price objective on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Stephens lifted their target price on Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock valued at $46,968,117 over the last quarter. Insiders own 0.75% of the company’s stock.

Fiserv 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.