Sky Investment Group LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Sky Investment Group LLC bought a new position in Fiserv, Inc. (NYSE:FI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,945 shares of the business services provider’s stock, valued at approximately $290,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Shields & Co. LLC bought a new position in shares of Fiserv in the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in shares of Fiserv during the fourth quarter worth approximately $27,000. RE Dickinson Investment Advisors LLC acquired a new position in shares of Fiserv during the fourth quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $30,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Fiserv in the fourth quarter worth $32,000. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Gibbons sold 2,800 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were 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 in the company, valued at $4,213,329.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Gibbons sold 2,800 shares of the 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 owns 28,323 shares in the company, valued at $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 valued at $7,696,448. 0.75% of the stock is currently owned by insiders.

Fiserv Price Performance

Shares of FI traded up $1.55 during mid-day trading on Wednesday, hitting $164.01. 1,447,594 shares of the company traded hands, compared to its average volume of 2,512,592. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average of $154.10 and a 200 day moving average of $151.95. Fiserv, Inc. has a one year low of $109.11 and a one year high of $165.56. The stock has a market capitalization of $95.96 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 1.31 and a beta of 0.92.

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

Wall Street Analyst Weigh In

FI has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. William Blair upgraded shares of Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their price target on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Citigroup raised Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Five 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 presently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

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.