Edge Financial Advisors LLC Acquires Shares of 1,600 Fiserv, Inc. (NYSE:FI)

Edge Financial Advisors LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,600 shares of the business services provider’s stock, valued at approximately $256,000.

A number of other large investors have also recently made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of Fiserv by 67.3% during the third quarter. Federated Hermes Inc. now owns 8,173 shares of the business services provider’s stock valued at $923,000 after purchasing an additional 3,288 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Fiserv by 2,205.9% during the third quarter. Ancora Advisors LLC now owns 392 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 375 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Fiserv by 56.0% during the third quarter. Advisors Asset Management Inc. now owns 21,085 shares of the business services provider’s stock valued at $2,382,000 after purchasing an additional 7,573 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Fiserv by 4.7% during the third quarter. Ameriprise Financial Inc. now owns 2,255,602 shares of the business services provider’s stock valued at $254,803,000 after purchasing an additional 100,738 shares in the last quarter. Finally, Kensico Capital Management Corp lifted its position in shares of Fiserv by 11.0% during the third quarter. Kensico Capital Management Corp now owns 1,008,100 shares of the business services provider’s stock valued at $113,875,000 after purchasing an additional 99,800 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on FI shares. Jefferies Financial Group raised their price target on shares of Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, March 25th. Susquehanna raised their price objective on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a report on Monday, March 25th. TD Cowen raised their price objective on shares of Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on shares of Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, BMO Capital Markets raised their price objective on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.44.

Fiserv Price Performance

FI stock traded up $0.52 during midday trading on Friday, reaching $149.31. The company had a trading volume of 331,536 shares, compared to its average volume of 2,470,988. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a market capitalization of $87.36 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.20 and a beta of 0.92. The firm has a 50-day moving average price of $150.50 and a 200-day moving average price of $147.40.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business 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 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. Insiders sold a total of 50,729 shares of company stock valued at $7,611,991 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

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.