Cary Street Partners Financial LLC Invests $8.30 Million in Fiserv, Inc. (NYSE:FI)

Cary Street Partners Financial LLC bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, Holdings Channel reports. The institutional investor bought 40,400 shares of the business services provider’s stock, valued at approximately $8,299,000.

Several other institutional investors have also recently added to or reduced their stakes in FI. Valley National Advisers Inc. acquired a new stake in Fiserv during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new stake in Fiserv during the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new stake in Fiserv in the fourth quarter valued at $31,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the fourth quarter valued at $37,000. Finally, Quarry LP grew its holdings in shares of Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is currently owned by company insiders.

Fiserv Stock Performance

NYSE:FI opened at $184.38 on Monday. The firm’s fifty day simple moving average is $211.04 and its 200-day simple moving average is $211.73. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The stock has a market cap of $102.23 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FI has been the subject of several research reports. Citigroup decreased their target price on Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and raised their target price for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Piper Sandler set a $218.00 price target on shares of Fiserv in a research report on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

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.