Cornerstone Capital Inc. Buys New Position in Fiserv, Inc. (NYSE:FI)

Cornerstone Capital Inc. bought a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 133,267 shares of the business services provider’s stock, valued at approximately $17,703,000. Fiserv makes up about 1.9% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management raised its stake in shares of 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 acquiring an additional 100 shares in the last quarter. West Oak Capital LLC purchased a new position in shares of Fiserv during the fourth quarter worth approximately $27,000. Halpern Financial Inc. purchased a new position in shares of Fiserv during the fourth quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new position in shares of Fiserv during the fourth quarter worth approximately $28,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of Fiserv during the fourth quarter worth approximately $31,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 111,575 shares of company stock worth $17,022,387 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $155.89 on Friday. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $159.99. The stock has a market cap of $91.21 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average price is $152.54 and its 200-day moving average price is $137.90.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS. On average, equities analysts expect that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FI. Truist Financial lifted their target price on shares of Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. UBS Group lifted their target price on shares of Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup lifted their target price on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

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.