Abacus Wealth Partners LLC Invests $213,000 in Fiserv, Inc. (NYSE:FI)

Abacus Wealth Partners LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,183 shares of the business services provider’s stock, valued at approximately $213,000.

Several other large investors have also made changes to their positions in FI. Unique Wealth LLC boosted its stake in Fiserv by 18.6% during the third quarter. Unique Wealth LLC now owns 11,715 shares of the business services provider’s stock worth $2,105,000 after buying an additional 1,840 shares in the last quarter. Czech National Bank grew its stake in Fiserv by 5.2% during the third quarter. Czech National Bank now owns 117,281 shares of the business services provider’s stock worth $21,070,000 after buying an additional 5,784 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Fiserv by 2.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 137,439 shares of the business services provider’s stock worth $24,691,000 after acquiring an additional 3,251 shares during the last quarter. Abacus Planning Group Inc. boosted its stake in Fiserv by 12.3% in the third quarter. Abacus Planning Group Inc. now owns 8,364 shares of the business services provider’s stock worth $1,503,000 after purchasing an additional 919 shares in the last quarter. Finally, American National Bank & Trust grew its holdings in shares of Fiserv by 3.6% during the third quarter. American National Bank & Trust now owns 78,304 shares of the business services provider’s stock worth $14,067,000 after purchasing an additional 2,741 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other 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 transaction, the executive vice president now directly 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 can be accessed through the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $27,005,424.03. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of Fiserv 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 sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders sold a total of 211,890 shares of company stock worth $36,572,057 over the last quarter. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FI. Oppenheimer started coverage on Fiserv in a report on Tuesday. They issued an “outperform” rating and a $203.00 price target for the company. B. Riley lifted their target price on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Keefe, Bruyette & Woods raised their target price on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $177.64.

Fiserv Price Performance

Shares of FI opened at $183.36 on Friday. The company has a market cap of $107.28 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 1.45 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $170.20 and its 200 day simple moving average is $158.56. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $183.56.

Fiserv (NYSE:FI) last released its quarterly earnings data 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. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the company earned $1.81 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

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.