Kimelman & Baird LLC Purchases New Stake in Fiserv, Inc. (NYSE:FI)

Kimelman & Baird LLC acquired a new position in shares of Fiserv, Inc. (NYSE:FI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 400 shares of the business services provider’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aveo Capital Partners LLC bought a new stake in Fiserv during the fourth quarter worth approximately $309,000. 9258 Wealth Management LLC purchased a new position in Fiserv during the 4th quarter valued at about $552,000. Scotia Capital Inc. acquired a new position in Fiserv in the 4th quarter valued at approximately $1,046,000. Eagle Asset Management Inc. acquired a new position in shares of Fiserv in the fourth quarter worth $6,684,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Fiserv during the 4th quarter worth about $1,634,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of recent research reports. BMO Capital Markets raised their price target on shares of Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. William Blair upgraded shares of Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. KeyCorp raised their price objective on Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $154.00 to $175.00 in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at $25,350,427.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of Fiserv 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 transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock valued at $36,572,057 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $179.65 on Tuesday. The business’s 50-day moving average price is $168.75 and its 200-day moving average price is $158.00. The firm has a market capitalization of $105.11 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 1.45 and a beta of 0.93. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $179.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm 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 revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.81 EPS. Equities research analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current year.

About Fiserv

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.