Carnegie Capital Asset Management LLC Invests $347,000 in Fiserv, Inc. (NYSE:FI)

Carnegie Capital Asset Management LLC bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,611 shares of the business services provider’s stock, valued at approximately $347,000.

Other hedge funds have also modified their holdings of the company. Comerica Bank purchased a new stake in shares of Fiserv during the 2nd quarter worth about $200,000. West Oak Capital LLC purchased a new position in Fiserv in the 4th quarter valued at about $27,000. Halpern Financial Inc. purchased a new position in Fiserv in the 4th quarter valued at about $27,000. Fortitude Family Office LLC purchased a new position in Fiserv in the 4th quarter valued at about $28,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in Fiserv in the 2nd quarter valued at about $27,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 over the last ninety days. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

FI has been the topic of a number of research reports. Truist Financial raised their price target on shares of Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. BMO Capital Markets raised their price target on shares of Fiserv from $152.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Stephens raised their target price on shares of Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Evercore ISI reissued an “outperform” rating and issued a $185.00 target price on shares of Fiserv in a research note on Tuesday, March 26th. Finally, Mizuho reissued a “buy” rating and issued a $156.00 target price on shares of Fiserv in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $158.21.

Fiserv Price Performance

Fiserv stock opened at $147.13 on Thursday. The stock has a market cap of $86.62 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The company has a fifty day simple moving average of $151.65 and a 200-day simple moving average of $136.03. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.04. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. Equities analysts expect that Fiserv, Inc. will post 8.62 EPS for the current fiscal 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.