Miracle Mile Advisors LLC Raises Stock Position in Fiserv, Inc. (NYSE:FI)

Miracle Mile Advisors LLC boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,097 shares of the business services provider’s stock after acquiring an additional 402 shares during the period. Miracle Mile Advisors LLC’s holdings in Fiserv were worth $1,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FI. Waypoint Capital Advisors LLC raised its stake in Fiserv by 1.7% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock valued at $560,000 after purchasing an additional 51 shares during the last quarter. Optas LLC raised its position in shares of Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock valued at $578,000 after buying an additional 54 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after buying an additional 57 shares during the last quarter. Covestor Ltd boosted its position in Fiserv by 7.6% during the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock worth $150,000 after acquiring an additional 59 shares during the last quarter. Finally, West Bancorporation Inc. grew its stake in Fiserv by 3.8% during the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 61 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FI shares. The Goldman Sachs Group raised their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price objective on Fiserv from $220.00 to $258.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Oppenheimer raised their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group raised their price objective on shares of Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.17.

Insider Activity

In related news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

Fiserv stock opened at $204.56 on Wednesday. Fiserv, Inc. has a 52-week low of $135.97 and a 52-week high of $223.23. The company’s 50 day moving average is $209.69 and its two-hundred day moving average is $186.07. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market cap of $116.38 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Fiserv, Inc. will post 8.77 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.