King Wealth Management Group Invests $207,000 in Fiserv, Inc. (NYSE:FI)

King Wealth Management Group bought a new stake in shares of Fiserv, Inc. (NYSE:FI) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,154 shares of the business services provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Shields & Co. LLC purchased a new stake in shares of Fiserv in the 1st quarter worth about $25,000. Family Firm Inc. purchased a new position in shares of Fiserv during the 2nd quarter valued at about $31,000. Clean Yield Group raised its stake in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in shares of Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Down 1.1 %

Shares of NYSE:FI opened at $210.87 on Friday. The company has a market capitalization of $119.97 billion, a P/E ratio of 40.55, a P/E/G ratio of 1.63 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $189.77 and its 200-day simple moving average is $167.73. Fiserv, Inc. has a 52-week low of $121.86 and a 52-week high of $215.50.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The company 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 quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 EPS. As a group, equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FI. B. Riley raised their price objective on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna lifted their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their target price on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group raised their price objective on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $207.25.

Insider Buying and Selling

In other news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents a 40.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,711 shares of company stock valued at $47,477,232. Company insiders own 0.75% of the company’s stock.

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.