Marks Group Wealth Management Inc Invests $8.13 Million in Fiserv, Inc. (NYSE:FI)

Marks Group Wealth Management Inc purchased a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 61,176 shares of the business services provider’s stock, valued at approximately $8,127,000. Fiserv makes up approximately 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FI. Piscataqua Savings Bank purchased a new position in shares of Fiserv in the fourth quarter worth about $67,000. GHP Investment Advisors Inc. acquired a new position in shares of Fiserv during the 4th quarter worth approximately $78,000. Liberty Capital Management Inc. purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $7,071,000. Birch Hill Investment Advisors LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $84,583,000. Finally, Graypoint LLC purchased a new position in Fiserv during the fourth quarter worth approximately $3,732,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 23,929 shares of Fiserv 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 owns 163,699 shares in the company, valued at approximately $24,847,871.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada upped their target price on Fiserv from $144.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a research report on Thursday, January 11th. BMO Capital Markets boosted their target price on shares of Fiserv from $152.00 to $157.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. KeyCorp increased their price target on shares of Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday. Finally, B. Riley lifted their price target on shares of Fiserv from $152.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.18 on Monday, hitting $148.80. The company’s stock had a trading volume of 2,743,240 shares, compared to its average volume of 2,516,318. The company has a market capitalization of $87.61 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99. The firm has a fifty day moving average price of $151.90 and a 200-day moving average price of $136.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Fiserv, Inc. will post 8.63 earnings per share for the current fiscal 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.