Manning & Napier Advisors LLC Purchases New Shares in Fiserv, Inc. (NYSE:FI)

Manning & Napier Advisors LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 704,715 shares of the business services provider’s stock, valued at approximately $105,031,000. Fiserv accounts for approximately 1.2% of Manning & Napier Advisors LLC’s portfolio, making the stock its 28th biggest holding. Manning & Napier Advisors LLC owned 0.12% of Fiserv as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Fiserv by 0.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after purchasing an additional 417,459 shares during the last quarter. Capital World Investors boosted its stake in Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after purchasing an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Fiserv during the 4th quarter worth $960,592,000. Veritas Asset Management LLP acquired a new stake in Fiserv during the 4th quarter worth $927,298,000. Finally, Parnassus Investments LLC acquired a new stake in Fiserv during the 4th quarter worth $900,674,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group lifted their price target on Fiserv from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company lifted their price target on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Mizuho lifted their price target on Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $172.29.

Fiserv Stock Up 0.9 %

FI traded up $1.47 on Friday, reaching $161.62. The company’s stock had a trading volume of 1,576,017 shares, compared to its average volume of 2,521,503. The stock has a 50 day moving average of $153.02 and a two-hundred day moving average of $151.27. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $94.56 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.31 and a beta of 0.92. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $165.56.

Fiserv (NYSE:FI) last announced its quarterly 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 firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 earnings per share. As a group, analysts forecast that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,800 shares of company stock worth $7,696,448. 0.75% of the stock is owned by insiders.

Fiserv Company 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.