Fiserv, Inc. (NYSE:FI) Shares Purchased by Drake & Associates LLC

Drake & Associates LLC lifted its holdings in Fiserv, Inc. (NYSE:FI) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,606 shares of the business services provider’s stock after purchasing an additional 710 shares during the quarter. Drake & Associates LLC’s holdings in Fiserv were worth $1,017,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock valued at $872,000 after buying an additional 2,033 shares in the last quarter. Fisher Asset Management LLC bought a new position in Fiserv during the fourth quarter valued at about $349,000. Proficio Capital Partners LLC boosted its stake in Fiserv by 48.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider’s stock valued at $485,000 after buying an additional 775 shares in the last quarter. Inceptionr LLC bought a new position in Fiserv during the fourth quarter valued at about $723,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Fiserv during the fourth quarter valued at about $281,000. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $268.00 price target (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Wall Street Zen assumed coverage on Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. decreased their price target on Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Citigroup decreased their price target on Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Tigress Financial increased their price target on Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.23.

Fiserv Price Performance

Shares of FI opened at $175.55 on Friday. The company has a market capitalization of $97.33 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $170.83 and a 200 day moving average of $199.47. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares of the company’s stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the sale, the executive vice president directly owned 25,385 shares of the company’s stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is 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.