Howe & Rusling Inc. Invests $3.91 Million in Fiserv, Inc. (NYSE:FI)

Howe & Rusling Inc. purchased a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,458 shares of the business services provider’s stock, valued at approximately $3,913,000.

A number of other hedge funds have also recently made changes to their positions in FI. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fiserv by 2.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,966 shares of the business services provider’s stock worth $6,548,000 after purchasing an additional 1,256 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Fiserv by 5.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 14,110 shares of the business services provider’s stock worth $1,594,000 after acquiring an additional 764 shares in the last quarter. Mission Wealth Management LP grew its holdings in Fiserv by 9.6% during the 3rd quarter. Mission Wealth Management LP now owns 18,197 shares of the business services provider’s stock worth $2,056,000 after acquiring an additional 1,589 shares in the last quarter. Robbins Farley grew its holdings in Fiserv by 3.8% during the 3rd quarter. Robbins Farley now owns 26,507 shares of the business services provider’s stock worth $2,994,000 after acquiring an additional 964 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Fiserv by 121.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,219 shares of the business services provider’s stock worth $138,000 after acquiring an additional 668 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Thursday, January 11th. Robert W. Baird increased their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. B. Riley increased their price target on shares of Fiserv from $176.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 10th. Finally, Mizuho reissued a “buy” rating and set a $156.00 price target on shares of Fiserv in a research report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 111,575 shares of company stock worth $17,022,387. Corporate insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Fiserv stock traded down $3.12 during trading on Wednesday, reaching $149.55. The company had a trading volume of 2,522,637 shares, compared to its average volume of 2,558,452. The firm’s 50-day simple moving average is $152.76 and its 200 day simple moving average is $138.65. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The firm has a market capitalization of $87.50 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. As a group, equities research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Fiserv Company 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.