Fiserv, Inc. (NYSE:FI) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC cut its position in shares of Fiserv, Inc. (NYSE:FI) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,766 shares of the business services provider’s stock after selling 555 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Fiserv were worth $4,090,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of FI. Bessemer Group Inc. grew its holdings in shares of Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after acquiring an additional 1,306,901 shares during the last quarter. Capital World Investors grew its holdings in shares of Fiserv by 7.4% in 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 acquiring an additional 1,303,078 shares during the last quarter. Maj Invest Holding A S acquired a new position in shares of Fiserv in the 3rd quarter worth $172,993,000. Manning & Napier Advisors LLC acquired a new position in shares of Fiserv in the 2nd quarter worth $105,031,000. Finally, American Century Companies Inc. grew its holdings in shares of Fiserv by 1,642.5% in the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock worth $74,556,000 after acquiring an additional 471,531 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,890 shares of company stock worth $46,968,117 over the last three months. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Susquehanna raised their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Stephens raised their target price on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their target price on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.25.

Fiserv Trading Down 0.6 %

Fiserv stock opened at $200.82 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $184.49 and its 200-day simple moving average is $164.96. The firm has a market capitalization of $114.25 billion, a PE ratio of 38.62, a PEG ratio of 1.54 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $118.42 and a 52 week high of $204.50.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Fiserv, Inc. will post 8.77 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.