Fiserv, Inc. (NYSE:FI) Stock Position Reduced by MAI Capital Management

MAI Capital Management trimmed its position in Fiserv, Inc. (NYSE:FI) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,792 shares of the business services provider’s stock after selling 1,064 shares during the quarter. MAI Capital Management’s holdings in Fiserv were worth $6,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Waypoint Capital Advisors LLC raised its position in shares of Fiserv by 1.7% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock worth $560,000 after purchasing an additional 51 shares during the period. Optas LLC grew its stake in Fiserv by 1.7% during the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after buying an additional 54 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the period. Covestor Ltd lifted its stake in Fiserv by 7.6% in the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock valued at $150,000 after buying an additional 59 shares during the last quarter. Finally, West Bancorporation Inc. boosted its holdings in shares of Fiserv by 3.8% during the third quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 61 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FI shares. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Susquehanna lifted their price target on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Robert W. Baird increased their price objective on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. William Blair raised Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen increased their price target on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $211.52.

Insiders Place Their Bets

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents a 40.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,711 shares of company stock worth $47,477,232. Corporate insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.9 %

NYSE:FI opened at $212.77 on Tuesday. The stock has a fifty day simple moving average of $192.16 and a 200 day simple moving average of $169.12. The firm has a market capitalization of $121.05 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. Fiserv, Inc. has a 1-year low of $121.86 and a 1-year high of $215.50. 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 announced its 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. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Fiserv Company 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.