Daymark Wealth Partners LLC Acquires 426 Shares of Fiserv, Inc. (NYSE:FI)

Daymark Wealth Partners LLC lifted its stake in Fiserv, Inc. (NYSE:FI) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,007 shares of the business services provider’s stock after purchasing an additional 426 shares during the period. Daymark Wealth Partners LLC’s holdings in Fiserv were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in Fiserv in the fourth quarter valued at approximately $257,000. Principal Financial Group Inc. increased its position in shares of Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock valued at $190,875,000 after buying an additional 7,183 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Fiserv in the 4th quarter valued at $79,000. American National Bank & Trust raised its stake in Fiserv by 2.4% during the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock worth $18,956,000 after buying an additional 1,983 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Fiserv by 20.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock worth $1,574,000 after acquiring an additional 1,288 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a report on Monday, May 19th. Barclays lowered their target price on Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research note on Friday, April 25th. Keefe, Bruyette & Woods reduced their price target on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Finally, Susquehanna dropped their price objective on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.27.

Insider Buying and Selling

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Stock Performance

NYSE FI opened at $168.89 on Wednesday. The firm has a market capitalization of $93.64 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $183.39 and its two-hundred day moving average price is $204.72. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the business earned $1.88 EPS. Fiserv’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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.