Somerset Group LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Somerset Group LLC bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,700 shares of the business services provider’s stock, valued at approximately $402,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cooper Financial Group grew its holdings in shares of Fiserv by 3.1% during the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after purchasing an additional 67 shares in the last quarter. Quent Capital LLC lifted its position in Fiserv by 5.9% during the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 68 shares during the last quarter. Fielder Capital Group LLC grew its stake in Fiserv by 3.3% in the 2nd quarter. Fielder Capital Group LLC now owns 2,130 shares of the business services provider’s stock worth $317,000 after buying an additional 68 shares in the last quarter. Andina Capital Management LLC increased its holdings in shares of Fiserv by 3.1% in the 2nd quarter. Andina Capital Management LLC now owns 2,342 shares of the business services provider’s stock worth $349,000 after buying an additional 70 shares during the last quarter. Finally, Sage Mountain Advisors LLC raised its position in shares of Fiserv by 3.0% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,447 shares of the business services provider’s stock valued at $365,000 after buying an additional 72 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Price Performance

FI stock opened at $175.23 on Thursday. 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 firm has a 50 day moving average price of $165.19 and a 200-day moving average price of $156.39. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $176.76. The firm has a market capitalization of $102.53 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.38 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. KeyCorp boosted their target price on Fiserv from $170.00 to $180.00 and gave the stock an “overweight” 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. Finally, Wells Fargo & Company increased their price objective on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $174.32.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated 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 directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the sale, the executive vice president now directly 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. Insiders have sold a total of 66,890 shares of company stock worth $10,853,407 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

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.