Moran Wealth Management LLC Has $7.65 Million Stock Position in Fiserv, Inc. $FI

Moran Wealth Management LLC increased its stake in Fiserv, Inc. (NYSE:FI) by 2.1% during the second quarter, Holdings Channel.com reports. The fund owned 44,350 shares of the business services provider’s stock after buying an additional 922 shares during the period. Moran Wealth Management LLC’s holdings in Fiserv were worth $7,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Fiserv by 1.1% in the first quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock worth $11,059,063,000 after acquiring an additional 535,407 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Fiserv by 77.2% in the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock worth $1,829,451,000 after acquiring an additional 253,544 shares during the period. Nuveen LLC acquired a new position in shares of Fiserv in the first quarter worth approximately $1,722,584,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Fiserv by 5.3% in the first quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider’s stock worth $1,264,178,000 after acquiring an additional 287,420 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on FI. Monness Crespi & Hardt raised Fiserv from a “sell” rating to a “neutral” rating in a research note on Monday, July 21st. Barclays set a $175.00 price target on Fiserv and gave the company an “overweight” rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft began coverage on Fiserv in a research note on Thursday, July 17th. They issued a “buy” rating and a $200.00 price target on the stock. Raymond James Financial set a $167.00 price target on Fiserv and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley dropped their price target on Fiserv from $268.00 to $266.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.73.

Fiserv Price Performance

Shares of NYSE:FI opened at $124.00 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a twelve month low of $121.40 and a twelve month high of $238.59. The stock’s 50 day moving average is $132.70 and its 200-day moving average is $160.65. The firm has a market capitalization of $67.40 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.80 and a beta of 0.95.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a return on equity of 19.69% and a net margin of 16.00%.The company had revenue of $4.32 billion for the quarter. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS 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.