Summit Financial LLC Buys Shares of 2,012 Fiserv, Inc. (NYSE:FI)

Summit Financial LLC purchased a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,012 shares of the business services provider’s stock, valued at approximately $267,000.

Several other large investors have also recently made changes to their positions in FI. Cambridge Investment Research Advisors Inc. raised its holdings in Fiserv by 2.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 57,966 shares of the business services provider’s stock valued at $6,548,000 after acquiring an additional 1,256 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Fiserv by 5.7% in the third quarter. Pinnacle Associates Ltd. now owns 14,110 shares of the business services provider’s stock valued at $1,594,000 after purchasing an additional 764 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Fiserv by 5.6% during the third quarter. Stratos Wealth Partners LTD. now owns 8,363 shares of the business services provider’s stock worth $945,000 after buying an additional 441 shares during the last quarter. Independent Advisor Alliance grew its holdings in Fiserv by 40.0% in the 3rd quarter. Independent Advisor Alliance now owns 8,080 shares of the business services provider’s stock valued at $913,000 after buying an additional 2,309 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in Fiserv by 7.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 7,229 shares of the business services provider’s stock valued at $817,000 after buying an additional 500 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on FI. Morgan Stanley boosted their price target on shares of Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada boosted their target price on shares of Fiserv from $158.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Barclays raised their price target on shares of Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Robert W. Baird lifted their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 price objective on shares of Fiserv in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the stock in a transaction that occurred on 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 sale, 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 legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 111,575 shares of company stock worth $17,022,387. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $149.22 on Friday. The company has a market cap of $87.31 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a fifty day simple moving average of $152.77 and a two-hundred day simple moving average of $138.79.

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

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.