Edgestream Partners L.P. Raises Stock Holdings in Fiserv, Inc. (NYSE:FI)

Edgestream Partners L.P. lifted its stake in shares of Fiserv, Inc. (NYSE:FI) by 779.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,324 shares of the business services provider’s stock after acquiring an additional 15,355 shares during the period. Edgestream Partners L.P.’s holdings in Fiserv were worth $2,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Shields & Co. LLC purchased a new stake in shares of Fiserv in the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter worth about $27,000. RE Dickinson Investment Advisors LLC purchased a new position in shares of Fiserv during the 4th quarter worth about $27,000. Family Firm Inc. acquired a new stake in shares of Fiserv in the second quarter worth approximately $31,000. Finally, ZRC Wealth Management LLC purchased a new stake in Fiserv in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $175.23 on Thursday. The firm has a market cap of $102.53 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $165.19 and its two-hundred day moving average is $156.39. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $176.76.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. Analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on 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 transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,890 shares of company stock valued at $10,853,407. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FI shares. TD Cowen increased their price target on shares of Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. B. Riley increased their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price target on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BTIG Research initiated coverage on Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

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.