Drive Wealth Management LLC Has $916,000 Holdings in Fiserv, Inc. $FI

Drive Wealth Management LLC cut its position in Fiserv, Inc. (NYSE:FI) by 6.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,311 shares of the business services provider’s stock after selling 347 shares during the quarter. Drive Wealth Management LLC’s holdings in Fiserv were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings in Fiserv by 3,150.0% in the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 126 shares during the period. Abound Financial LLC bought a new stake in Fiserv in the 1st quarter valued at $38,000. Hager Investment Management Services LLC bought a new stake in Fiserv in the 2nd quarter valued at $34,000. Christopher J. Hasenberg Inc boosted its holdings in Fiserv by 218.5% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 142 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in Fiserv by 178.9% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 136 shares during the period. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on FI shares. Barclays set a $175.00 price target on shares of Fiserv and gave the company an “overweight” rating in a report on Monday, July 28th. KeyCorp reduced their price objective on shares of Fiserv from $250.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. UBS Group reduced their price objective on shares of Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 25th. The Goldman Sachs Group reduced their price objective on shares of Fiserv from $192.00 to $149.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Raymond James Financial set a $167.00 price objective on shares of Fiserv and gave the stock an “outperform” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $196.11.

Fiserv Trading Up 3.2%

Shares of Fiserv stock opened at $121.78 on Monday. The stock has a market capitalization of $66.20 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 0.79 and a beta of 0.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $131.92 and a 200 day simple moving average of $158.10. Fiserv, Inc. has a 12-month low of $117.84 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $4.32 billion during the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Research analysts expect that Fiserv, Inc. will post 10.23 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.