Cornerstone Wealth Group LLC Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Cornerstone Wealth Group LLC lifted its position in Fiserv, Inc. (NYSE:FI) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,303 shares of the business services provider’s stock after acquiring an additional 78 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Fiserv were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new stake in Fiserv in the first quarter valued at approximately $2,359,000. Ashton Thomas Private Wealth LLC grew its stake in Fiserv by 5.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,654 shares of the business services provider’s stock valued at $2,182,000 after acquiring an additional 717 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Fiserv by 21.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,949 shares of the business services provider’s stock worth $311,000 after acquiring an additional 348 shares in the last quarter. Private Advisor Group LLC raised its position in Fiserv by 4.0% during the first quarter. Private Advisor Group LLC now owns 19,940 shares of the business services provider’s stock worth $3,187,000 after acquiring an additional 776 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Fiserv by 6.1% during the first quarter. Janney Montgomery Scott LLC now owns 63,865 shares of the business services provider’s stock valued at $10,207,000 after purchasing an additional 3,666 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FI. The Goldman Sachs Group boosted their target price on shares of Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their target price on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Stephens raised their target price on Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Insider Activity

In related news, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction dated 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 transaction, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,890 shares of company stock valued at $46,968,117. Company insiders own 0.75% of the company’s stock.

Fiserv Price Performance

FI stock opened at $197.91 on Friday. Fiserv, Inc. has a 52-week low of $113.11 and a 52-week high of $204.50. The business has a fifty day moving average of $183.22 and a two-hundred day moving average of $163.96. The stock has a market cap of $112.59 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $1.96 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.