Fiserv, Inc. (NYSE:FI) Shares Purchased by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. raised its stake in Fiserv, Inc. (NYSE:FI) by 0.5% in the first quarter, HoldingsChannel reports. The fund owned 20,060 shares of the business services provider’s stock after purchasing an additional 102 shares during the period. Fiserv accounts for approximately 1.8% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 14th largest holding. Investment Research & Advisory Group Inc.’s holdings in Fiserv were worth $4,430,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FI. Blue Trust Inc. grew its stake in shares of Fiserv by 24.7% during the 1st quarter. Blue Trust Inc. now owns 4,961 shares of the business services provider’s stock worth $1,096,000 after purchasing an additional 982 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Fiserv by 6.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 2,830 shares of the business services provider’s stock valued at $612,000 after purchasing an additional 182 shares during the period. ORG Wealth Partners LLC boosted its holdings in Fiserv by 23.1% during the first quarter. ORG Wealth Partners LLC now owns 799 shares of the business services provider’s stock worth $177,000 after buying an additional 150 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its position in Fiserv by 1.8% during the first quarter. Trivant Custom Portfolio Group LLC now owns 5,163 shares of the business services provider’s stock valued at $1,140,000 after buying an additional 93 shares during the period. Finally, Premier Path Wealth Partners LLC grew its position in Fiserv by 10.4% during the first quarter. Premier Path Wealth Partners LLC now owns 2,745 shares of the business services provider’s stock valued at $606,000 after buying an additional 259 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Down 1.4%

FI stock opened at $161.19 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $178.13 and a two-hundred day moving average of $202.10. Fiserv, Inc. has a 12 month low of $146.46 and a 12 month high of $238.59. The company has a market cap of $89.37 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.00 and a beta of 0.90.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business earned $1.88 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on FI. Robert W. Baird decreased their price objective on shares of Fiserv from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group cut their price target on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, May 19th. BMO Capital Markets lowered their price target on Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley reissued an “overweight” rating and issued a $268.00 price objective (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. Finally, Citigroup reduced their target price on Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.23.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

About Fiserv

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.