Horan Capital Advisors LLC. Makes New $3.81 Million Investment in Fiserv, Inc. (NYSE:FI)

Horan Capital Advisors LLC. acquired a new position in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,644 shares of the business services provider’s stock, valued at approximately $3,805,000. Fiserv accounts for approximately 1.4% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors have also recently made changes to their positions in FI. Brighton Jones LLC boosted its stake in Fiserv by 4.0% during the third quarter. Brighton Jones LLC now owns 2,385 shares of the business services provider’s stock worth $269,000 after buying an additional 92 shares during the period. Jacobi Capital Management LLC boosted its position in shares of Fiserv by 0.9% during the 3rd quarter. Jacobi Capital Management LLC now owns 10,099 shares of the business services provider’s stock worth $1,141,000 after purchasing an additional 94 shares during the period. UniSuper Management Pty Ltd increased its holdings in Fiserv by 2.3% in the 3rd quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the business services provider’s stock valued at $508,000 after purchasing an additional 100 shares during the last quarter. Hollencrest Capital Management raised its position in 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 purchasing an additional 100 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its stake in Fiserv by 2.5% during the third quarter. Argonautica Private Wealth Management Inc. now owns 4,128 shares of the business services provider’s stock worth $466,000 after purchasing an additional 101 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp raised their price target on shares of Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. B. Riley lifted their price target on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group lifted their price target on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, March 25th. TD Cowen lifted their price target on Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Susquehanna lifted their price target on Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.33.

Insider Activity

In related news, COO Guy Chiarello sold 63,646 shares of Fiserv stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,209,646. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 111,575 shares of company stock valued at $17,022,387 in the last three months. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

FI stock traded up $0.05 during trading on Friday, hitting $149.22. The company had a trading volume of 2,908,470 shares, compared to its average volume of 2,572,780. The firm has a market cap of $87.31 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The firm has a 50-day moving average price of $152.77 and a 200-day moving average price of $138.79. 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 (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. On average, analysts expect that Fiserv, Inc. will post 8.69 earnings per share for the current 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.