SouthState Corp Takes $3.52 Million Position in Fiserv, Inc. (NYSE:FI)

SouthState Corp purchased a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,477 shares of the business services provider’s stock, valued at approximately $3,517,000.

Several other hedge funds have also recently bought and sold shares of FI. Hollencrest Capital Management increased its stake in shares of Fiserv by 75.8% in 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 in the last quarter. West Oak Capital LLC bought a new position in Fiserv in the fourth quarter valued at about $27,000. Halpern Financial Inc. bought a new position in Fiserv in the fourth quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in Fiserv in the fourth quarter valued at about $28,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in Fiserv in the fourth quarter valued at about $31,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas upgraded Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. UBS Group raised their target price on Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. 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 objective on Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Stephens reiterated an “equal weight” rating and set a $165.00 price objective 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.33.

Fiserv Stock Performance

Shares of NYSE FI traded up $0.31 during midday trading on Thursday, hitting $149.17. 2,571,472 shares of the company’s stock were exchanged, compared to its average volume of 2,568,418. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $159.99. The company’s 50 day moving average price is $152.79 and its 200 day moving average price is $138.72. The firm has a market capitalization of $87.28 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,477,911.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is owned by company insiders.

Fiserv 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.