Sax Wealth Advisors LLC Sells 100 Shares of Fiserv, Inc. (NYSE:FI)

Sax Wealth Advisors LLC cut its position in shares of Fiserv, Inc. (NYSE:FI) by 4.1% in the second quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FI. Price T Rowe Associates Inc. MD lifted its position in shares of Fiserv by 0.9% in the first 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 position in Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after buying an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Fiserv during the 4th quarter worth about $960,592,000. Veritas Asset Management LLP bought a new position in shares of Fiserv in the 4th quarter valued at about $927,298,000. Finally, Parnassus Investments LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $900,674,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

FI has been the subject of a number of analyst reports. TD Cowen raised their price target on Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Fiserv from $169.00 to $176.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on shares of Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, William Blair raised shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Five equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Fiserv Stock Performance

Fiserv stock traded up $1.44 during midday trading on Friday, hitting $161.59. The company’s stock had a trading volume of 1,576,019 shares, compared to its average volume of 2,521,503. 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 has a market cap of $94.55 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.31 and a beta of 0.92. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $165.56. The company has a 50-day moving average price of $153.26 and a two-hundred day moving average price of $151.49.

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

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last three months, insiders sold 50,800 shares of company stock worth $7,696,448. 0.75% of the stock is currently owned by company insiders.

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.