Adell Harriman & Carpenter Inc. Raises Stock Position in Fiserv, Inc. (NYSE:FI)

Adell Harriman & Carpenter Inc. raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,603 shares of the business services provider’s stock after purchasing an additional 80 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Fiserv were worth $354,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vega Investment Solutions purchased a new position in Fiserv during the 4th quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in shares of Fiserv in the 4th quarter worth about $28,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth about $37,000. Quarry LP grew its position in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 70 shares during the period. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv in the 4th quarter worth about $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

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

Fiserv Price Performance

FI opened at $175.55 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $97.33 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.08 and a beta of 0.91. The company’s 50-day simple moving average is $170.83 and its two-hundred day simple moving average is $199.47. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week 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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FI. Piper Sandler set a $218.00 target price on shares of Fiserv in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Susquehanna reduced their target price on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $268.00 target price (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Finally, Royal Bank Of Canada set a $237.00 target price on shares of Fiserv in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.23.

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.