Sumitomo Mitsui Trust Group Inc. Purchases 4,218 Shares of Fiserv, Inc. (NYSE:FI)

Sumitomo Mitsui Trust Group Inc. raised its position in Fiserv, Inc. (NYSE:FI) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,317,778 shares of the business services provider’s stock after buying an additional 4,218 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Fiserv worth $236,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted 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 valued at $519,690,000 after purchasing an additional 1,306,901 shares in the last quarter. Capital World Investors grew its position in Fiserv by 7.4% in the first 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 during the last quarter. Maj Invest Holding A S acquired a new position in Fiserv during the third quarter worth about $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv in the second quarter worth about $105,031,000. Finally, American Century Companies Inc. grew its holdings in shares of Fiserv by 1,642.5% during the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after purchasing an additional 471,531 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 0.4 %

Shares of NYSE:FI opened at $213.98 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv, Inc. has a 52-week low of $121.07 and a 52-week high of $215.45. The business’s 50 day simple moving average is $188.18 and its two-hundred day simple moving average is $167.00. The firm has a market cap of $121.74 billion, a P/E ratio of 41.15, a PEG ratio of 1.61 and a beta of 0.92.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the business earned $1.96 EPS. Fiserv’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FI shares. Morgan Stanley upped their price target on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their target price on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer started coverage on Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective for the company. Finally, KeyCorp lifted their target price 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. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Transactions at Fiserv

In related news, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fiserv news, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction 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 approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,890 shares of company stock valued at $46,968,117 over the last three months. Corporate insiders own 0.75% of the company’s stock.

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.