Wendell David Associates Inc. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Wendell David Associates Inc. cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,300 shares of the business services provider’s stock after selling 1,295 shares during the quarter. Fiserv comprises 2.7% of Wendell David Associates Inc.’s investment portfolio, making the stock its 8th largest holding. Wendell David Associates Inc.’s holdings in Fiserv were worth $27,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Sanders Capital LLC acquired a new position in Fiserv during the third quarter worth $764,543,000. FMR LLC lifted its holdings in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Maj Invest Holding A S acquired a new position in Fiserv in the third quarter valued at about $172,993,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after buying an additional 561,377 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its position in Fiserv by 1,238.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the transaction, the director now owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FI shares. Morgan Stanley lifted their price target on Fiserv from $220.00 to $258.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer raised their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. KeyCorp lifted their price target on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Fiserv Stock Performance

Shares of FI stock opened at $209.48 on Thursday. The company has a market cap of $119.18 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. Fiserv, Inc. has a 52 week low of $137.13 and a 52 week high of $223.23. The firm has a 50 day moving average of $209.23 and a 200-day moving average of $188.13. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

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

Fiserv 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.