Worth Asset Management LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Worth Asset Management LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,834 shares of the business services provider’s stock, valued at approximately $2,226,000. Fiserv comprises approximately 1.2% of Worth Asset Management LLC’s portfolio, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FI. Clean Yield Group boosted its position in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares during the period. Kennebec Savings Bank bought a new stake in Fiserv during the 3rd quarter worth about $40,000. Finally, Northwest Investment Counselors LLC acquired a new position in Fiserv during the 3rd quarter valued at about $44,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

Fiserv stock traded up $0.82 during midday trading on Wednesday, reaching $204.64. The company’s stock had a trading volume of 706,620 shares, compared to its average volume of 1,747,821. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market cap of $116.42 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. Fiserv, Inc. has a 52 week low of $134.34 and a 52 week high of $223.23. The business has a 50-day moving average price of $209.42 and a 200-day moving average price of $184.17.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $1.96 EPS. Fiserv’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on FI. UBS Group upped their price target on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their price target on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Jefferies Financial Group raised their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley boosted their target price on Fiserv from $220.00 to $258.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.88.

Insider Buying and Selling

In other news, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares in the company, valued at $6,684,555.55. The trade was a 47.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,821 shares of company stock valued at $18,581,095 over the last ninety days. 0.75% of the stock is owned by company 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.