Sax Wealth Advisors LLC Trims Position in Fiserv, Inc. (NYSE:FI)

Sax Wealth Advisors LLC reduced its position in Fiserv, Inc. (NYSE:FI) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,324 shares of the business services provider’s stock after selling 100 shares during the period. Sax Wealth Advisors LLC’s holdings in Fiserv were worth $346,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FI. Price T Rowe Associates Inc. MD increased its position in Fiserv by 0.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after purchasing an additional 417,459 shares in the last quarter. Capital World Investors lifted its holdings in shares of Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after acquiring an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Fiserv during the 4th quarter worth $960,592,000. Veritas Asset Management LLP purchased a new position in Fiserv in the fourth quarter valued at about $927,298,000. Finally, Parnassus Investments LLC purchased a new position in Fiserv in the fourth quarter valued at about $900,674,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI traded up $1.44 on Friday, reaching $161.59. 1,576,019 shares of the company traded hands, compared to its average volume of 2,521,503. The stock has a market capitalization of $94.55 billion, a PE ratio of 30.20, a P/E/G ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50 day moving average is $153.26 and its 200-day moving average is $151.49. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $165.56.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts anticipate that Fiserv, Inc. will post 8.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Mizuho lifted their price objective on Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird upped their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Five 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.29.

Insider Buying and Selling

In related news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,800 shares of company stock valued at $7,696,448. Corporate insiders own 0.75% of the company’s stock.

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.