Modera Wealth Management LLC Grows Holdings in Fiserv, Inc. (NYSE:FI)

Modera Wealth Management LLC grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,843 shares of the business services provider’s stock after purchasing an additional 463 shares during the quarter. Modera Wealth Management LLC’s holdings in Fiserv were worth $1,200,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its position in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after buying an additional 45 shares during the last quarter. Catalina Capital Group LLC raised its stake in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after buying an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Fiserv by 1.2% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after buying an additional 50 shares during the period. Finally, Hemington Wealth Management boosted its stake in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after buying an additional 50 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FI. Royal Bank of Canada boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. KeyCorp boosted their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. StockNews.com downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley raised their target price on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.75% of the stock is owned by company insiders.

Fiserv Stock Performance

FI opened at $237.65 on Tuesday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The firm has a market capitalization of $133.39 billion, a PE ratio of 44.09, a PEG ratio of 1.52 and a beta of 0.94. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $217.30 and its 200 day moving average price is $201.84.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.