Cardinal Point Capital Management ULC Acquires Shares of 1,255 Fiserv, Inc. (NYSE:FI)

Cardinal Point Capital Management ULC acquired a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,255 shares of the business services provider’s stock, valued at approximately $258,000.

A number of other hedge funds also recently modified their holdings of the stock. Kimelman & Baird LLC acquired a new stake in Fiserv during the second quarter worth approximately $60,000. Oppenheimer & Co. Inc. increased its stake in shares of Fiserv by 79.2% during the second quarter. Oppenheimer & Co. Inc. now owns 10,395 shares of the business services provider’s stock worth $1,549,000 after purchasing an additional 4,594 shares during the period. Federated Hermes Inc. lifted its holdings in Fiserv by 160.3% during the 2nd quarter. Federated Hermes Inc. now owns 151,647 shares of the business services provider’s stock worth $22,601,000 after purchasing an additional 93,393 shares during the last quarter. Parallel Advisors LLC boosted its stake in Fiserv by 21.5% in the 2nd quarter. Parallel Advisors LLC now owns 5,416 shares of the business services provider’s stock valued at $807,000 after purchasing an additional 959 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in Fiserv by 16.3% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,267 shares of the business services provider’s stock valued at $338,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FI shares. Morgan Stanley lifted their target price on Fiserv from $220.00 to $258.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho boosted their price objective on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird raised their target price on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company boosted their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $222.88.

Fiserv Price Performance

FI stock opened at $201.63 on Tuesday. The stock has a market cap of $114.71 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 1.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50 day simple moving average of $209.66 and a 200 day simple moving average of $185.68. Fiserv, Inc. has a 1 year low of $135.97 and a 1 year high of $223.23.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Research analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated Tuesday, November 12th. The stock was 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 directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi Miller sold 30,000 shares of the 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 sale, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,821 shares of company stock valued at $18,581,095 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

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.