Essex Financial Services Inc. Raises Position in Fiserv, Inc. (NYSE:FI)

Essex Financial Services Inc. increased its holdings in Fiserv, Inc. (NYSE:FI) by 15.2% in the second quarter, Holdings Channel.com reports. The firm owned 2,456 shares of the business services provider’s stock after purchasing an additional 324 shares during the period. Essex Financial Services Inc.’s holdings in Fiserv were worth $366,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new stake in Fiserv in the 1st quarter valued at about $25,000. GW&K Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter worth approximately $27,000. RE Dickinson Investment Advisors LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $30,000. Finally, Family Firm Inc. purchased a new position in Fiserv during the second quarter worth approximately $31,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Fiserv stock opened at $174.60 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $174.81. The company has a fifty day moving average price of $159.42 and a two-hundred day moving average price of $154.40. The company has a market cap of $100.52 billion, a PE ratio of 32.64, a P/E/G ratio of 1.41 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. Research analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insider Activity

In related news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,690 shares of company stock valued at $14,833,215. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Fiserv from $156.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. B. Riley boosted their price target on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Citigroup upgraded Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.32.

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.