Rialto Wealth Management LLC Buys New Holdings in Fiserv, Inc. (NYSE:FI)

Rialto Wealth Management LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 500 shares of the business services provider’s stock, valued at approximately $103,000.

A number of other institutional investors also recently bought and sold shares of FI. Portside Wealth Group LLC lifted its position in Fiserv by 12.4% during the third quarter. Portside Wealth Group LLC now owns 1,763 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 195 shares during the period. Hollencrest Capital Management raised its stake in shares of Fiserv by 33.2% during the 3rd quarter. Hollencrest Capital Management now owns 309 shares of the business services provider’s stock valued at $56,000 after buying an additional 77 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of Fiserv by 2.9% in the 3rd quarter. Leavell Investment Management Inc. now owns 2,583 shares of the business services provider’s stock valued at $464,000 after buying an additional 72 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Fiserv in the third quarter worth about $503,000. Finally, Provident Trust Co. grew its holdings in Fiserv by 1.6% during the third quarter. Provident Trust Co. now owns 1,103,584 shares of the business services provider’s stock worth $198,259,000 after acquiring an additional 17,272 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Down 0.9 %

FI stock opened at $218.04 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average of $218.31 and a two-hundred day moving average of $203.12. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The company has a market cap of $122.38 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FI shares. Royal Bank of Canada upped their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Oppenheimer increased their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Susquehanna lifted their price objective on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.