Fiserv, Inc. (NYSE:FI) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in Fiserv, Inc. (NYSE:FI) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,643 shares of the business services provider’s stock after selling 581 shares during the quarter. Pitcairn Co.’s holdings in Fiserv were worth $1,732,000 at the end of the most recent reporting period.

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

Fiserv Stock Up 1.9 %

Shares of NYSE:FI opened at $221.56 on Friday. The company has a market cap of $126.05 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 1.66 and a beta of 0.92. The firm’s 50-day simple moving average is $195.77 and its 200-day simple moving average is $170.87. 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, Inc. has a fifty-two week low of $125.42 and a fifty-two week high of $222.05.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating 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 firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FI. Royal Bank of Canada lifted their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Compass Point assumed coverage on shares of Fiserv in a research report on Wednesday. They set a “buy” rating and a $278.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.29.

Insider Activity at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated 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 transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated 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 transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock worth $44,299,745 over the last 90 days. Company insiders own 0.75% of the company’s stock.

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.