7,493 Shares in Fiserv, Inc. (NYSE:FI) Acquired by Meritage Portfolio Management

Meritage Portfolio Management acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,493 shares of the business services provider’s stock, valued at approximately $995,000.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management increased its position 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 buying an additional 100 shares during the period. West Oak Capital LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $27,000. Halpern Financial Inc. acquired a new stake in shares of Fiserv during the fourth quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in Fiserv in the fourth quarter worth $28,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in Fiserv in the fourth quarter worth $31,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BNP Paribas upgraded shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. TD Cowen lifted their price objective on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a report on Thursday, January 11th. Barclays raised their price target on shares of Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Truist Financial raised their price target on shares of Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Fiserv Stock Performance

Shares of FI traded up $2.88 during trading hours on Friday, hitting $156.17. The company’s stock had a trading volume of 1,808,282 shares, compared to its average volume of 2,548,095. The business has a 50 day simple moving average of $152.39 and a two-hundred day simple moving average of $137.45. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.24 and a beta of 0.91. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating 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 company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts expect that Fiserv, Inc. will post 8.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,847,871.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

Fiserv Company 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.