Pittenger & Anderson Inc. Purchases Shares of 3,011,734 Fiserv, Inc. (NYSE:FI)

Pittenger & Anderson Inc. acquired a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,011,734 shares of the business services provider’s stock, valued at approximately $400,079,000. Fiserv makes up about 17.9% of Pittenger & Anderson Inc.’s portfolio, making the stock its biggest holding.

Several other large investors also recently added to or reduced their stakes in FI. Bank of New Hampshire bought a new stake in Fiserv during the fourth quarter valued at about $94,000. Eley Financial Management Inc purchased a new position in Fiserv during the fourth quarter valued at approximately $4,952,000. Bailard Inc. purchased a new stake in shares of Fiserv in the fourth quarter worth $10,244,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Fiserv during the 4th quarter valued at $1,877,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at $2,365,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada increased their price target on Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Cowen lifted their price objective on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. BNP Paribas upgraded shares of Fiserv from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 10th. Morgan Stanley lifted their price target on shares of Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets increased their price objective on shares of Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Fiserv Trading Up 1.9 %

Shares of NYSE FI traded up $2.93 during midday trading 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. The business’s 50 day moving average is $152.39 and its two-hundred day moving average is $137.45. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The firm has a market cap of $91.98 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. As a group, equities research analysts expect that Fiserv, Inc. will post 8.67 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 in the last three months. Company insiders own 0.75% of the company’s stock.

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.