WASHINGTON TRUST Co Makes New $1.18 Million Investment in Fiserv, Inc. (NYSE:FI)

WASHINGTON TRUST Co purchased a new position in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,893 shares of the business services provider’s stock, valued at approximately $1,181,000.

A number of other institutional investors have also recently made changes to their positions in FI. Moody National Bank Trust Division lifted its holdings in shares of Fiserv by 25.2% in the 3rd quarter. Moody National Bank Trust Division now owns 17,431 shares of the business services provider’s stock valued at $1,969,000 after acquiring an additional 3,507 shares during the last quarter. Legal Advantage Investments Inc. bought a new position in shares of Fiserv in the 4th quarter valued at about $8,837,000. Wesbanco Bank Inc. bought a new position in shares of Fiserv in the 3rd quarter valued at about $767,000. Citigroup Inc. lifted its holdings in shares of Fiserv by 59.5% in the 3rd quarter. Citigroup Inc. now owns 1,188,274 shares of the business services provider’s stock valued at $134,227,000 after acquiring an additional 443,117 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its holdings in shares of Fiserv by 881.0% in the 2nd quarter. Graham Capital Management L.P. now owns 72,973 shares of the business services provider’s stock valued at $9,206,000 after acquiring an additional 65,534 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FI. Susquehanna raised their price objective on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Monday. Morgan Stanley boosted their target price on shares of Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Thursday, January 11th. Truist Financial upped their price objective on shares of Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group upped their price objective on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $155.83.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.20% of the stock is currently owned by company insiders.

Fiserv Price Performance

Shares of NYSE:FI traded down $0.25 on Thursday, hitting $159.08. The stock had a trading volume of 1,003,793 shares, compared to its average volume of 2,564,608. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $159.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $147.33 and its 200-day moving average price is $132.01. The company has a market capitalization of $93.92 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the business posted $1.91 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Fiserv, Inc. will post 8.62 earnings per share for the current 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.