OLD National Bancorp IN Invests $584,000 in Fiserv, Inc. (NYSE:FI)

OLD National Bancorp IN purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,395 shares of the business services provider’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FI. Hollencrest Capital Management boosted its stake in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. West Oak Capital LLC bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $27,000. Halpern Financial Inc. bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $28,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $31,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Shares of FI opened at $152.25 on Thursday. The stock has a 50-day moving average of $152.28 and a two-hundred day moving average of $137.34. Fiserv, Inc. has a one year low of $109.11 and a one year high of $159.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The stock has a market cap of $89.64 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.27 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Fiserv, Inc. will post 8.63 EPS for the current year.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 111,575 shares of company stock worth $17,022,387 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FI shares. BNP Paribas raised Fiserv from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 10th. UBS Group increased their price target on Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer upgraded Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a report on Thursday, January 11th. KeyCorp increased their price target on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Barclays raised their price objective on Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.33.

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.