Magnetar Financial LLC Buys New Shares in Fiserv, Inc. (NYSE:FI)

Magnetar Financial LLC bought a new stake in Fiserv, Inc. (NYSE:FI) during the second quarter, HoldingsChannel reports. The fund bought 31,309 shares of the business services provider’s stock, valued at approximately $4,666,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new position in Fiserv in the first quarter valued at $25,000. ZRC Wealth Management LLC bought a new position in Fiserv in the first quarter valued at $32,000. RE Dickinson Investment Advisors LLC bought a new position in Fiserv in the fourth quarter valued at $27,000. Family Firm Inc. bought a new position in Fiserv in the second quarter valued at $31,000. Finally, Redmont Wealth Advisors LLC bought a new position in Fiserv in the first quarter valued at $37,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI opened at $177.61 on Monday. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $178.89. The company has a 50 day simple moving average of $166.23 and a two-hundred day simple moving average of $156.83. The company has a market capitalization of $103.92 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06.

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

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,890 shares of company stock valued at $10,853,407. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FI shares. Royal Bank of Canada upped their price target on shares of Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. B. Riley upped their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.