Fiserv, Inc. (NYSE:FI) Stock Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Fiserv, Inc. (NYSE:FI) by 4.7% in the third quarter, HoldingsChannel reports. The fund owned 119,297 shares of the business services provider’s stock after purchasing an additional 5,394 shares during the quarter. CIBC Asset Management Inc’s holdings in Fiserv were worth $21,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FI. Price T Rowe Associates Inc. MD lifted its stake in Fiserv by 0.9% during the first 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 purchasing an additional 417,459 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. Massachusetts Financial Services Co. MA raised its position in shares of Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after purchasing an additional 64,332 shares during the period. Legal & General Group Plc boosted its position in shares of 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 purchasing an additional 85,598 shares during the period. Finally, Bessemer Group Inc. increased its stake 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 worth $519,690,000 after purchasing an additional 1,306,901 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 40.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,711 shares of company stock valued at $47,477,232. Insiders own 0.75% of the company’s stock.

Fiserv Stock Up 0.0 %

Shares of FI opened at $210.92 on Friday. The business’s 50 day simple moving average is $190.54 and its 200-day simple moving average is $168.03. Fiserv, Inc. has a one year low of $121.86 and a one year high of $215.50. The company has a market capitalization of $120.00 billion, a P/E ratio of 40.56, a PEG ratio of 1.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on FI shares. KeyCorp raised their target price on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays raised their price target on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna boosted their target price on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.25.

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.