Frank Rimerman Advisors LLC Increases Stock Position in Fiserv, Inc. (NYSE:FI)

Frank Rimerman Advisors LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 36,618.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,875 shares of the business services provider’s stock after buying an additional 5,859 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Fiserv were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FI. Price T Rowe Associates Inc. MD bought a new position in Fiserv in the fourth quarter worth about $5,885,279,000. Capital World Investors purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $2,329,623,000. Veritas Asset Management LLP bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $927,298,000. Parnassus Investments LLC purchased a new stake in Fiserv in the fourth quarter worth $900,674,000. Finally, Northern Trust Corp bought a new position in Fiserv in the fourth quarter worth $784,200,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Up 0.9 %

FI stock opened at $179.27 on Tuesday. The company has a market cap of $104.89 billion, a price-to-earnings ratio of 33.51, 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. The business’s 50-day moving average is $166.70 and its two-hundred day moving average is $157.03. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $179.53.

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

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the firm’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 sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. Insiders have sold 211,890 shares of company stock worth $36,572,057 in the last 90 days. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $154.00 to $175.00 in a research report on Monday, July 22nd. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a 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. Finally, Robert W. Baird raised their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

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.