Meridian Management Co. Has $3.12 Million Position in Fiserv, Inc. $FI

Meridian Management Co. increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,081 shares of the business services provider’s stock after purchasing an additional 4,010 shares during the quarter. Meridian Management Co.’s holdings in Fiserv were worth $3,117,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Welch & Forbes LLC boosted its holdings in shares of Fiserv by 0.7% during the second quarter. Welch & Forbes LLC now owns 865,819 shares of the business services provider’s stock worth $149,276,000 after purchasing an additional 6,323 shares during the period. Carmel Capital Management L.L.C. raised its position in Fiserv by 0.5% during the second quarter. Carmel Capital Management L.L.C. now owns 46,860 shares of the business services provider’s stock valued at $8,079,000 after acquiring an additional 250 shares in the last quarter. Geneva Capital Management LLC raised its position in Fiserv by 2.9% during the second quarter. Geneva Capital Management LLC now owns 192,091 shares of the business services provider’s stock valued at $33,118,000 after acquiring an additional 5,401 shares in the last quarter. Twin City Private Wealth LLC raised its position in Fiserv by 3.9% during the second quarter. Twin City Private Wealth LLC now owns 3,392 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 127 shares in the last quarter. Finally, Hutchinson Financial Advisors INC bought a new position in Fiserv during the second quarter valued at approximately $636,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. KeyCorp lowered shares of Fiserv from an “overweight” rating to a “hold” rating in a research report on Thursday. Sanford C. Bernstein lowered shares of Fiserv from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $205.00 to $80.00 in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Fiserv from $155.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley set a $81.00 price objective on shares of Fiserv and gave the company an “equal weight” rating in a research report on Thursday. Finally, Mizuho set a $145.00 price objective on shares of Fiserv and gave the company an “outperform” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $131.95.

Fiserv Trading Up 2.1%

Shares of FI stock opened at $66.57 on Friday. Fiserv, Inc. has a 12 month low of $64.52 and a 12 month high of $238.59. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $126.20 and its two-hundred day moving average is $151.35. The company has a market cap of $36.19 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The company had revenue of $4.32 billion for the quarter. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

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.