Cidel Asset Management Inc. Has $1.86 Million Holdings in Fiserv, Inc. $FI

Cidel Asset Management Inc. grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 675.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,791 shares of the business services provider’s stock after acquiring an additional 9,399 shares during the period. Cidel Asset Management Inc.’s holdings in Fiserv were worth $1,860,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FI. Activest Wealth Management increased its holdings in shares of Fiserv by 3,150.0% during the first quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock worth $29,000 after purchasing an additional 126 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Fiserv during the second quarter worth $34,000. Christopher J. Hasenberg Inc grew its stake in shares of Fiserv by 218.5% during the second quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider’s stock worth $36,000 after buying an additional 142 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Fiserv by 178.9% during the second quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock worth $37,000 after purchasing an additional 136 shares during the period. Finally, Abound Financial LLC acquired a new position in shares of Fiserv during the first quarter worth $38,000. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Up 3.2%

Shares of FI opened at $121.78 on Friday. The firm has a fifty day simple moving average of $131.92 and a two-hundred day simple moving average of $158.51. Fiserv, Inc. has a twelve month low of $117.84 and a twelve month high of $238.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $66.20 billion, a P/E ratio of 20.33, a PEG ratio of 0.79 and a beta of 0.95.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $4.32 billion during the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. On average, research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

FI has been the topic of several recent analyst reports. KeyCorp dropped their target price on shares of Fiserv from $250.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. UBS Group decreased their target price on shares of Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, July 25th. TD Cowen decreased their target price on shares of Fiserv from $188.00 to $177.00 and set a “buy” rating for the company in a research report on Friday. Raymond James Financial set a $167.00 price objective on shares of Fiserv and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group dropped their target price on shares of Fiserv from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.11.

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.