Modera Wealth Management LLC Raises Stock Position in Fiserv, Inc. (NYSE:FI)

Modera Wealth Management LLC increased its position in Fiserv, Inc. (NYSE:FI) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,843 shares of the business services provider’s stock after acquiring an additional 463 shares during the period. Modera Wealth Management LLC’s holdings in Fiserv were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Fiserv by 15.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,111 shares of the business services provider’s stock valued at $1,879,000 after purchasing an additional 1,229 shares during the last quarter. Maia Wealth LLC boosted its holdings in shares of Fiserv by 11.0% in the fourth quarter. Maia Wealth LLC now owns 7,392 shares of the business services provider’s stock worth $1,575,000 after buying an additional 735 shares during the last quarter. Hickory Point Bank & Trust bought a new stake in Fiserv during the fourth quarter valued at approximately $398,000. Purkiss Capital Advisors LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $1,462,000. Finally, Jacobi Capital Management LLC raised its position in Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FI. StockNews.com downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Susquehanna boosted their price objective on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Finally, Compass Point initiated coverage on shares of Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Price Performance

Fiserv stock opened at $237.65 on Tuesday. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average is $217.30 and its 200 day moving average is $201.84. The company has a market cap of $133.39 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.