Institute for Wealth Management LLC. Invests $850,000 in Fiserv, Inc. (NYSE:FI)

Institute for Wealth Management LLC. purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,395 shares of the business services provider’s stock, valued at approximately $850,000.

Other hedge funds have also recently bought and sold shares of the company. Resonant Capital Advisors LLC purchased a new position in shares of Fiserv during the 4th quarter valued at $314,000. Eukles Asset Management purchased a new position in Fiserv in the fourth quarter valued at about $820,000. Knights of Columbus Asset Advisors LLC acquired a new position in Fiserv in the 4th quarter worth about $753,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Fiserv during the 4th quarter worth about $73,641,000. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in shares of Fiserv during the 4th quarter valued at about $569,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 1.2 %

Shares of FI opened at $148.62 on Friday. The stock’s 50-day moving average price is $151.81 and its 200 day moving average price is $136.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The firm has a market capitalization of $87.50 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.20 and a beta of 0.91.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. Fiserv’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. As a group, research analysts predict that Fiserv, Inc. will post 8.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FI. B. Riley raised their price objective on shares of Fiserv from $152.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Susquehanna upped 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. StockNews.com initiated coverage on shares of Fiserv in a research report on Saturday, February 3rd. They set a “buy” rating on the stock. KeyCorp raised Fiserv from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a research report on Monday, January 8th. Finally, BNP Paribas raised Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average price target of $158.21.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,209,646. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 111,575 shares of company stock valued at $17,022,387. Company 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.