Folger Nolan Fleming Douglas Capital Management Inc. Acquires New Stake in Fiserv, Inc. (NYSE:FI)

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,990 shares of the business services provider’s stock, valued at approximately $397,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FI. DAVENPORT & Co LLC lifted its position in Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock worth $1,483,000 after buying an additional 2,002 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Fiserv by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock worth $1,151,000 after buying an additional 1,859 shares in the last quarter. Private Trust Co. NA lifted its position in Fiserv by 60.4% during the 3rd quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after buying an additional 821 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Fiserv by 1.0% during the 3rd quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock worth $1,742,000 after purchasing an additional 147 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Fiserv by 14.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,660 shares of the business services provider’s stock worth $526,000 after purchasing an additional 578 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FI shares. Morgan Stanley boosted their price objective on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. TD Cowen boosted their price objective on shares of Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley boosted their price objective on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens restated an “equal weight” rating and set a $165.00 price objective on shares of Fiserv in a research note on Wednesday. Finally, StockNews.com started coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 63,646 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 in the last quarter. Insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of Fiserv stock traded up $2.60 on Friday, reaching $155.89. 3,196,489 shares of the stock were exchanged, compared to its average volume of 2,315,910. The firm’s 50 day moving average is $152.54 and its 200-day moving average is $137.74. Fiserv, Inc. has a one year low of $109.11 and a one year high of $159.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market cap of $91.21 billion, a PE ratio of 29.14, a P/E/G ratio of 1.24 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 EPS. As a group, analysts anticipate that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

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.