Kovack Advisors Inc. Purchases New Position in Fiserv, Inc. (NYSE:FI)

Kovack Advisors Inc. purchased a new position in shares of Fiserv, Inc. (NYSE:FIFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,665 shares of the business services provider’s stock, valued at approximately $1,550,000.

Other hedge funds also recently made changes to their positions in the company. Meritage Portfolio Management acquired a new stake in shares of Fiserv during the fourth quarter worth $995,000. Piscataqua Savings Bank acquired a new position in shares of Fiserv during the fourth quarter worth approximately $67,000. GHP Investment Advisors Inc. bought a new stake in Fiserv during the fourth quarter worth $78,000. Liberty Capital Management Inc. bought a new stake in Fiserv during the fourth quarter worth $7,071,000. Finally, Birch Hill Investment Advisors LLC bought a new position in Fiserv in the 4th quarter valued at $84,583,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Fiserv stock traded up $2.60 during trading on Friday, reaching $155.89. The company had a trading volume of 3,196,489 shares, compared to its average volume of 2,315,910. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99. The firm’s 50-day simple moving average is $152.54 and its 200 day simple moving average is $137.74. The firm has a market capitalization of $91.21 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FIGet Free Report) last issued its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 111,575 shares of company stock valued at $17,022,387 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FI shares. Citigroup raised their price target on Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho restated a “buy” rating and set a $156.00 price target on shares of Fiserv in a research report on Wednesday, March 27th. BNP Paribas upgraded Fiserv from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 10th. Truist Financial raised their price target on Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada raised their price target on Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Check Out Our Latest Stock Report on Fiserv

Fiserv Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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