Miracle Mile Advisors LLC Boosts Holdings in Fiserv, Inc. (NYSE:FI)

Miracle Mile Advisors LLC boosted its position in Fiserv, Inc. (NYSE:FI) by 2.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,338 shares of the business services provider’s stock after buying an additional 241 shares during the period. Miracle Mile Advisors LLC’s holdings in Fiserv were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. RDA Financial Network grew its position in Fiserv by 4.4% in the 1st quarter. RDA Financial Network now owns 15,609 shares of the business services provider’s stock valued at $3,447,000 after buying an additional 658 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Fiserv by 22.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 6,674 shares of the business services provider’s stock valued at $1,474,000 after buying an additional 1,219 shares during the last quarter. Wedmont Private Capital grew its position in Fiserv by 4.6% in the 1st quarter. Wedmont Private Capital now owns 6,889 shares of the business services provider’s stock valued at $1,434,000 after buying an additional 306 shares during the last quarter. UMB Bank n.a. grew its position in Fiserv by 2.9% in the 1st quarter. UMB Bank n.a. now owns 9,284 shares of the business services provider’s stock valued at $2,050,000 after buying an additional 262 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its position in Fiserv by 7.9% in the 1st quarter. Sivia Capital Partners LLC now owns 1,814 shares of the business services provider’s stock valued at $401,000 after buying an additional 133 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.9%

Shares of FI stock opened at $166.90 on Monday. The firm has a 50-day moving average price of $185.54 and a 200 day moving average price of $205.35. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The company has a market capitalization of $92.54 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.52 and a beta of 0.90. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Activity at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays decreased their target price on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group decreased their target price on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Jefferies Financial Group decreased their target price on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Citigroup decreased their target price on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.27.

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.