Legacy Wealth Asset Management LLC Sells 173 Shares of Fiserv, Inc. (NYSE:FI)

Legacy Wealth Asset Management LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,799 shares of the business services provider’s stock after selling 173 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Fiserv were worth $780,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kimelman & Baird LLC bought a new position in Fiserv during the second quarter worth $60,000. Renaissance Technologies LLC acquired a new stake in shares of Fiserv in the 2nd quarter valued at about $25,266,000. Seven Eight Capital LP bought a new stake in Fiserv in the 2nd quarter valued at about $1,369,000. XTX Topco Ltd acquired a new position in Fiserv during the 2nd quarter worth approximately $1,597,000. Finally, Intech Investment Management LLC boosted its holdings in Fiserv by 27.6% in the second quarter. Intech Investment Management LLC now owns 54,399 shares of the business services provider’s stock worth $8,108,000 after acquiring an additional 11,768 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Insider Activity at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by company insiders.

Fiserv Price Performance

FI opened at $208.67 on Friday. The firm has a 50-day moving average price of $209.49 and a 200-day moving average price of $186.34. Fiserv, Inc. has a twelve month low of $136.93 and a twelve month high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $118.71 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 1.32 and a beta of 0.94.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. Fiserv’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Equities analysts expect that Fiserv, Inc. will post 8.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FI. Morgan Stanley upped their target price on Fiserv from $220.00 to $258.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Compass Point initiated coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective on the stock. TD Cowen boosted their target price on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.