Harvest Fund Management Co. Ltd Takes Position in Fiserv, Inc. (NYSE:FI)

Harvest Fund Management Co. Ltd bought a new position in shares of Fiserv, Inc. (NYSE:FI) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,286 shares of the business services provider’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hollencrest Capital Management lifted its stake in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. West Oak Capital LLC purchased a new stake in Fiserv during the 4th quarter valued at about $27,000. Halpern Financial Inc. purchased a new stake in Fiserv during the 4th quarter valued at about $27,000. Fortitude Family Office LLC purchased a new stake in Fiserv during the 4th quarter valued at about $28,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Fiserv during the 4th quarter valued at about $31,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FI. Truist Financial increased their target price on Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. TD Cowen raised their price objective on Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price objective on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Citigroup raised their price objective on Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Fiserv Price Performance

NYSE FI opened at $152.25 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The stock’s fifty day moving average price is $152.28 and its 200 day moving average price is $137.34. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a market cap of $89.64 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.27 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company posted $1.58 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Fiserv, Inc. will post 8.63 earnings per share for the current year.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,847,871.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

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.