IFM Investors Pty Ltd Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

IFM Investors Pty Ltd cut its holdings in Fiserv, Inc. (NYSE:FI) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 122,037 shares of the business services provider’s stock after selling 2,048 shares during the period. IFM Investors Pty Ltd’s holdings in Fiserv were worth $21,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Fiserv by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after acquiring an additional 417,459 shares in the last quarter. Capital World Investors lifted its position in Fiserv by 7.4% in the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after acquiring an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Fiserv by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after acquiring an additional 64,332 shares in the last quarter. Legal & General Group Plc lifted its position in Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after acquiring an additional 85,598 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after acquiring an additional 1,306,901 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.81 during trading on Thursday, reaching $203.17. 671,944 shares of the stock traded hands, compared to its average volume of 2,475,986. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 1.44 and a beta of 0.93. The business has a fifty day simple moving average of $179.29 and a two-hundred day simple moving average of $162.09. 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, Inc. has a 52-week low of $111.53 and a 52-week high of $204.50.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.96 earnings per share. Sell-side analysts expect that Fiserv, Inc. will post 8.74 EPS for the current year.

Insider Buying and Selling

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fiserv news, 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 completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,890 shares of company stock worth $32,855,417. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FI shares. Susquehanna upped their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup increased their price target on Fiserv from $187.00 to $226.00 in a report on Tuesday. UBS Group increased their price target on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays increased their price target on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.08.

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.