Modern Wealth Management LLC Takes $214,000 Position in Fiserv, Inc. (NYSE:FI)

Modern Wealth Management LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,042 shares of the business services provider’s stock, valued at approximately $214,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Fiserv during the fourth quarter worth about $614,982,000. Madison Investment Advisors LLC purchased a new stake in Fiserv during the 4th quarter worth approximately $134,710,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after acquiring an additional 561,377 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Fiserv by 30,479.9% in the fourth quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock valued at $99,628,000 after acquiring an additional 483,411 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Fiserv in the fourth quarter worth approximately $97,254,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. StockNews.com began coverage on Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating on the stock. Citigroup raised their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets upped their price objective on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada upped their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $242.32.

Fiserv Stock Down 1.4 %

Fiserv stock opened at $216.15 on Friday. The company has a market capitalization of $121.32 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm has a 50 day moving average price of $222.00 and a 200 day moving average price of $207.67.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often 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.