Worth Asset Management LLC Makes New $2.23 Million Investment in Fiserv, Inc. (NYSE:FI)

Worth Asset Management LLC bought a new stake in Fiserv, Inc. (NYSE:FI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,834 shares of the business services provider’s stock, valued at approximately $2,226,000. Fiserv accounts for about 1.2% of Worth Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC purchased a new position in Fiserv in the third quarter valued at about $764,543,000. FMR LLC raised its stake in shares of Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the period. Maj Invest Holding A S bought a new position in shares of Fiserv during the 3rd quarter worth $172,993,000. Kovitz Investment Group Partners LLC raised its stake in Fiserv by 788.7% in the 3rd 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 period. Finally, Mizuho Securities USA LLC lifted its holdings in Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FI has been the subject of several recent research reports. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price objective on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.88.

Fiserv Trading Up 0.4 %

FI traded up $0.82 during midday trading on Wednesday, reaching $204.64. 706,620 shares of the company’s stock traded hands, compared to its average volume of 1,747,821. Fiserv, Inc. has a 52 week low of $134.34 and a 52 week high of $223.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day moving average of $209.42 and a two-hundred day moving average of $184.17. The stock has a market capitalization of $116.42 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 1.56 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS. On average, equities analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by corporate insiders.

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.