Accurate Wealth Management LLC Acquires 73 Shares of Fiserv, Inc. (NYSE:FI)

Accurate Wealth Management LLC boosted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,338 shares of the business services provider’s stock after purchasing an additional 73 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fiserv were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after acquiring an additional 218,833 shares during the last quarter. FMR LLC boosted its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after purchasing an additional 1,121,597 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Fiserv by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock worth $1,424,907,000 after purchasing an additional 340,938 shares during the period. Finally, Norges Bank purchased a new position in shares of Fiserv in the 4th quarter worth approximately $1,406,452,000. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FI. Royal Bank of Canada set a $237.00 target price on Fiserv in a report on Friday, April 25th. Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. UBS Group dropped their price objective on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Truist Financial assumed coverage on Fiserv in a report on Monday, June 2nd. They set a “buy” rating and a $181.00 price objective for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.27.

Fiserv Trading Down 0.6%

Shares of NYSE FI opened at $167.87 on Thursday. The firm has a market cap of $93.07 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The business has a fifty day simple moving average of $182.77 and a two-hundred day simple moving average of $204.46.

Fiserv (NYSE:FI) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. 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 share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% 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.