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

WASHINGTON TRUST Co bought a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,893 shares of the business services provider’s stock, valued at approximately $1,181,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Fiserv by 1.6% in the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after buying an additional 789,232 shares during the last quarter. State Street Corp raised its position in Fiserv by 4.1% in the first quarter. State Street Corp now owns 25,700,156 shares of the business services provider’s stock worth $2,904,889,000 after acquiring an additional 1,022,653 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fiserv by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 12,421,876 shares of the business services provider’s stock worth $1,400,906,000 after buying an additional 149,811 shares during the period. Morgan Stanley raised its holdings in Fiserv by 131.3% during the 4th quarter. Morgan Stanley now owns 9,980,646 shares of the business services provider’s stock worth $1,008,744,000 after buying an additional 5,666,145 shares during the period. Finally, BlueSpruce Investments LP increased its holdings in shares of Fiserv by 6.7% in the 2nd quarter. BlueSpruce Investments LP now owns 7,419,797 shares of the business services provider’s stock valued at $936,007,000 after purchasing an additional 465,468 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays boosted their price target on Fiserv from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Susquehanna boosted their price target on Fiserv from $175.00 to $180.00 and gave the company a “positive” rating in a research note on Monday. Oppenheimer upgraded Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a report on Thursday, January 11th. BMO Capital Markets raised their target price on Fiserv from $152.00 to $157.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Truist Financial raised their target price on Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.83.

Fiserv Stock Performance

Fiserv stock traded down $0.25 during midday trading on Thursday, hitting $159.08. 1,003,793 shares of the company’s stock were exchanged, compared to its average volume of 2,564,608. Fiserv, Inc. has a 12-month low of $109.11 and a 12-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 stock has a market cap 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. The firm’s 50 day simple moving average is $147.33 and its 200 day simple moving average is $132.01.

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

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.20% of the company’s stock.

Fiserv Company 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.