Addenda Capital Inc. Sells 3,350 Shares of Fiserv, Inc. (NYSE:FI)

Addenda Capital Inc. lowered its position in Fiserv, Inc. (NYSE:FI) by 4.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,208 shares of the business services provider’s stock after selling 3,350 shares during the period. Addenda Capital Inc.’s holdings in Fiserv were worth $10,741,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. West Oak Capital LLC bought a new position in shares of Fiserv during the fourth quarter valued at approximately $27,000. Halpern Financial Inc. purchased a new position in Fiserv during the fourth quarter valued at $27,000. GW&K Investment Management LLC purchased a new position in Fiserv during the fourth quarter valued at $27,000. RE Dickinson Investment Advisors LLC bought a new stake in Fiserv in the fourth quarter worth $27,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Fiserv in the fourth quarter worth $28,000. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Monday, March 25th. Robert W. Baird upped their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, March 25th. Finally, Barclays increased their target price on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.44.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. Insiders sold a total of 50,729 shares of company stock worth $7,611,991 over the last three months. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

NYSE:FI traded down $0.04 during mid-day trading on Friday, hitting $149.04. 3,925,738 shares of the company traded hands, compared to its average volume of 2,514,187. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $150.81 and its 200-day moving average price is $147.01. The firm has a market cap of $87.20 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. Fiserv, Inc. has a one year low of $109.11 and a one year high of $159.99.

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