B. Riley Wealth Advisors Inc. Raises Position in Fiserv, Inc. (NASDAQ:FISV)

B. Riley Wealth Advisors Inc. increased its holdings in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 10.4% during the third quarter, Holdings Channel.com reports. The firm owned 32,465 shares of the business services provider’s stock after acquiring an additional 3,066 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Fiserv were worth $3,040,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new position in Fiserv in the 3rd quarter worth $8,930,000. Industrial Alliance Investment Management Inc. increased its position in shares of Fiserv by 2.4% in the third quarter. Industrial Alliance Investment Management Inc. now owns 46,624 shares of the business services provider’s stock valued at $4,363,000 after acquiring an additional 1,091 shares during the period. River & Mercantile Asset Management LLP increased its position in shares of Fiserv by 24.1% in the third quarter. River & Mercantile Asset Management LLP now owns 139,014 shares of the business services provider’s stock valued at $13,011,000 after acquiring an additional 27,030 shares during the period. National Pension Service increased its position in shares of Fiserv by 3.7% in the third quarter. National Pension Service now owns 973,096 shares of the business services provider’s stock valued at $92,298,000 after acquiring an additional 34,582 shares during the period. Finally, M&T Bank Corp increased its position in shares of Fiserv by 15.4% in the third quarter. M&T Bank Corp now owns 192,744 shares of the business services provider’s stock valued at $18,036,000 after acquiring an additional 25,661 shares during the period. Hedge funds and other institutional investors own 88.79% of the company’s stock.

Insider Activity

In other news, Director Holdings L.P. Valueact sold 675,014 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $101.51, for a total transaction of $68,520,671.14. Following the completion of the transaction, the director now directly owns 11,647,776 shares of the company’s stock, valued at $1,182,365,741.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Holdings L.P. Valueact sold 675,014 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $101.51, for a total transaction of $68,520,671.14. Following the completion of the transaction, the director now directly owns 11,647,776 shares of the company’s stock, valued at $1,182,365,741.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Guy Chiarello sold 1,063 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $105.03, for a total transaction of $111,646.89. Following the transaction, the chief operating officer now directly owns 201,623 shares of the company’s stock, valued at $21,176,463.69. The disclosure for this sale can be found here. Insiders sold 1,755,044 shares of company stock valued at $179,073,098 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Fiserv in a research report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Fiserv from $101.00 to $104.00 and gave the company an “underweight” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. lifted their target price on shares of Fiserv from $121.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Truist Financial lifted their target price on shares of Fiserv from $95.00 to $105.00 in a research note on Wednesday, February 8th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $154.00 target price (up previously from $152.00) on shares of Fiserv in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $127.14.

Fiserv Trading Up 0.2 %

Shares of NASDAQ FISV opened at $109.49 on Friday. The firm’s 50 day moving average price is $110.15 and its 200-day moving average price is $103.68. The company has a market cap of $68.77 billion, a PE ratio of 27.93, a P/E/G ratio of 1.17 and a beta of 0.86. Fiserv, Inc. has a 52-week low of $87.03 and a 52-week high of $119.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04.

Fiserv (NASDAQ:FISV – Get Rating) last issued its earnings results on Tuesday, February 7th. The business services provider reported $1.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.91. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.35 billion. Fiserv had a net margin of 14.26% and a return on equity of 13.32%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. On average, equities research analysts expect that Fiserv, Inc. will post 7.32 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share buyback plan on Thursday, February 23rd that allows the company to buyback 75,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Fiserv Company Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.