Pinnacle Wealth Management Advisory Group LLC Acquires New Position in Fiserv, Inc. (NYSE:FI)

Pinnacle Wealth Management Advisory Group LLC bought a new position in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,600 shares of the business services provider’s stock, valued at approximately $345,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. West Oak Capital LLC purchased a new position in shares of Fiserv in the 4th quarter worth approximately $27,000. Halpern Financial Inc. bought a new position in Fiserv during the fourth quarter valued at $27,000. Fortitude Family Office LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at $28,000. Hollencrest Capital Management boosted its position in shares of Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after buying an additional 100 shares during the period. Finally, Glass Jacobson Investment Advisors llc bought a new stake in shares of Fiserv during the 4th quarter worth approximately $31,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on FI shares. Evercore ISI reiterated an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a report on Tuesday, March 26th. TD Cowen lifted their price target on Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. KeyCorp raised their price target on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Truist Financial lifted their price target 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, Stephens reissued an “equal weight” rating and issued a $165.00 target price on shares of Fiserv in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $151.79, for a total transaction 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 approximately $24,847,871.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 111,575 shares of company stock valued at $17,022,387. Company insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.4 %

Shares of Fiserv stock traded up $0.59 on Thursday, reaching $153.88. 1,510,894 shares of the company were exchanged, compared to its average volume of 2,544,894. The stock has a fifty day moving average price of $152.78 and a 200-day moving average price of $139.96. The firm has a market capitalization of $90.04 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81.

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 the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the firm posted $1.58 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Fiserv, Inc. will post 8.69 EPS for the current year.

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.