Abacus Wealth Partners LLC Acquires 3,205 Shares of Fiserv, Inc. (NYSE:FI)

Abacus Wealth Partners LLC boosted its holdings in Fiserv, Inc. (NYSE:FI) by 241.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,534 shares of the business services provider’s stock after purchasing an additional 3,205 shares during the period. Fiserv makes up 0.2% of Abacus Wealth Partners LLC’s portfolio, making the stock its 28th largest position. Abacus Wealth Partners LLC’s holdings in Fiserv were worth $1,001,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FI. Jacobi Capital Management LLC increased its holdings in shares of Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock worth $794,000 after buying an additional 44 shares during the period. Parkside Financial Bank & Trust raised its position in Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after buying an additional 45 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its stake in Fiserv by 3.9% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 48 shares during the period. Finally, Adero Partners LLC boosted its holdings in shares of Fiserv by 2.3% in the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 55 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the transaction, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. The trade was a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam L. Rosman sold 2,512 shares of the 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 directly owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FI shares. Tigress Financial upped their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Piper Sandler set a $218.00 target price on Fiserv in a research note on Friday, April 25th. Wall Street Zen began coverage on Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Redburn Atlantic reissued a “sell” rating and issued a $150.00 price target on shares of Fiserv in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Two equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Trading Up 1.2%

Shares of FI stock opened at $164.94 on Tuesday. 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, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59. The company’s 50-day moving average price is $180.92 and its 200-day moving average price is $203.05. The stock has a market cap of $91.45 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last posted 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. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. As a group, equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has initiated a share buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.