Milestone Asset Management LLC Invests $210,000 in Fiserv, Inc. (NYSE:FI)

Milestone Asset Management LLC acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 952 shares of the business services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Fiserv by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after buying an additional 218,833 shares during the last quarter. FMR LLC lifted its position in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after buying an additional 2,126,419 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Fiserv by 16.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after buying an additional 1,121,597 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Fiserv by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock worth $1,424,907,000 after buying an additional 340,938 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Fiserv during the 4th quarter worth $1,406,452,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FI has been the subject of several recent analyst reports. Stephens upped their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. KeyCorp upped their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Truist Financial initiated coverage on Fiserv in a report on Monday. They issued a “buy” rating and a $181.00 target price for the company. Finally, Jefferies Financial Group lowered their target price on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.27.

Fiserv Trading Down 0.6%

NYSE FI opened at $161.87 on Tuesday. The business has a 50 day simple moving average of $189.93 and a 200 day simple moving average of $206.78. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The stock has a market capitalization of $89.75 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Insider Buying and Selling

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

Fiserv Profile

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.