Brookstone Capital Management Acquires 7,619 Shares of Fiserv, Inc. (NYSE:FI)

Brookstone Capital Management raised its holdings in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,379 shares of the business services provider’s stock after purchasing an additional 7,619 shares during the quarter. Brookstone Capital Management’s holdings in Fiserv were worth $5,431,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $26,099,000. Perigon Wealth Management LLC purchased a new stake in shares of Fiserv in the 4th quarter worth $252,000. Carnegie Capital Asset Management LLC purchased a new stake in shares of Fiserv in the 4th quarter worth $347,000. SVB Wealth LLC bought a new position in shares of Fiserv during the 4th quarter worth $1,305,000. Finally, Wealth Alliance bought a new position in shares of Fiserv during the 4th quarter worth $658,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Up 1.0 %

FI stock opened at $167.32 on Friday. The company has a market capitalization of $97.90 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $167.43. The firm’s fifty day simple moving average is $154.72 and its 200-day simple moving average is $152.27. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

Fiserv (NYSE:FI – Get Free Report) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities research analysts forecast that Fiserv, Inc. will post 8.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Fiserv in a report on Wednesday, April 24th. UBS Group lifted their price target on Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho upped their price objective on Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. BMO Capital Markets boosted their target price on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their price target on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Read Our Latest Analysis on FI

Insider Transactions at Fiserv

In other news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fiserv news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. The disclosure for this sale can be found here. Insiders have sold 74,800 shares of company stock worth $11,655,728 over the last quarter. 0.75% of the stock is currently owned by insiders.

About Fiserv

(Free Report)

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.

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