WESCAP Management Group Inc. Acquires Shares of 16,707 Fiserv, Inc. (NYSE:FI)

WESCAP Management Group Inc. bought a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,707 shares of the business services provider’s stock, valued at approximately $2,219,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Fiserv by 1.6% during the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after buying an additional 789,232 shares during the last quarter. Northern Trust Corp boosted its position in shares of Fiserv by 2.7% during the 3rd quarter. Northern Trust Corp now owns 6,416,853 shares of the business services provider’s stock valued at $724,848,000 after acquiring an additional 168,286 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Fiserv by 5.2% in the third quarter. Invesco Ltd. now owns 5,207,615 shares of the business services provider’s stock valued at $588,252,000 after purchasing an additional 258,036 shares during the period. California Public Employees Retirement System grew its holdings in shares of Fiserv by 1.8% in the third quarter. California Public Employees Retirement System now owns 3,340,624 shares of the business services provider’s stock valued at $377,357,000 after purchasing an additional 60,176 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new stake in Fiserv during the fourth quarter worth about $400,079,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on FI shares. Robert W. Baird increased their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their price objective on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Barclays lifted their target price on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Truist Financial increased their price target on Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, B. Riley raised their price objective on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Fiserv Stock Up 0.0 %

FI stock traded up $0.05 during mid-day trading on Friday, reaching $149.22. The company had a trading volume of 2,942,846 shares, compared to its average volume of 2,577,646. The firm has a fifty day simple moving average of $152.74 and a 200 day simple moving average of $139.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $159.99.

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

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 111,575 shares of company stock valued at $17,022,387. Insiders own 0.75% of the company’s stock.

Fiserv 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.