Pittenger & Anderson Inc. Makes New Investment in Fiserv, Inc. (NYSE:FI)

Pittenger & Anderson Inc. bought a new stake in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,011,734 shares of the business services provider’s stock, valued at approximately $400,079,000. Fiserv accounts for about 17.9% of Pittenger & Anderson Inc.’s holdings, making the stock its largest position. Pittenger & Anderson Inc. owned 0.50% of Fiserv at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management boosted its stake in Fiserv by 75.8% in the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. West Oak Capital LLC bought a new position in Fiserv during the 4th quarter worth approximately $27,000. Halpern Financial Inc. acquired a new position in Fiserv during the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new stake in Fiserv in the fourth quarter valued at approximately $28,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in Fiserv in the fourth quarter worth $31,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

NYSE:FI traded up $2.93 during trading hours on Friday, hitting $156.22. The company’s stock had a trading volume of 1,545,845 shares, compared to its average volume of 2,544,538. 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 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The stock has a fifty day simple moving average of $152.39 and a 200-day simple moving average of $137.45. The company has a market capitalization of $91.98 billion, a P/E ratio of 28.65, a PEG 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. On average, analysts anticipate that Fiserv, Inc. will post 8.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FI. Robert W. Baird raised their price target on Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a report on Monday, March 25th. Royal Bank of Canada raised their price objective on shares of Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial upped their target price on shares of Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Finally, Evercore ISI restated an “outperform” rating and issued a $185.00 price target on shares of Fiserv in a report on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 23,929 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,847,871.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 111,575 shares of company stock valued at $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by 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.