ProVise Management Group LLC Makes New Investment in Fiserv, Inc. (NYSE:FI)

ProVise Management Group LLC acquired a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,840 shares of the business services provider’s stock, valued at approximately $7,285,000.

Several other hedge funds have also bought and sold shares of FI. West Oak Capital LLC purchased a new stake in Fiserv in the 4th quarter valued at $27,000. Halpern Financial Inc. purchased a new stake in Fiserv in the 4th quarter valued at $27,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter worth $27,000. Fortitude Family Office LLC purchased a new position in shares of Fiserv during the 4th quarter worth $28,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Fiserv during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $165.00 price target on shares of Fiserv in a research report on Wednesday, April 24th. TD Cowen raised their target price on Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their target price on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, March 25th. Royal Bank of Canada raised their target price on Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird raised their target price on Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.83.

Fiserv Stock Performance

FI traded up $0.14 on Friday, hitting $150.34. 1,579,942 shares of the stock traded hands, compared to its average volume of 2,498,205. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $87.96 billion, a PE ratio of 28.07, a P/E/G ratio of 1.23 and a beta of 0.92. The business has a fifty day moving average price of $153.49 and a two-hundred day moving average price of $142.82.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,847,871.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 111,575 shares of company stock worth $17,022,387 over the last three months. 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.