NorthRock Partners LLC Reduces Position in Fiserv, Inc. (NYSE:FI)

NorthRock Partners LLC decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 34.7% during the third quarter, HoldingsChannel reports. The firm owned 3,703 shares of the business services provider’s stock after selling 1,964 shares during the quarter. NorthRock Partners LLC’s holdings in Fiserv were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Fiserv by 0.9% in 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 buying an additional 417,459 shares during the last quarter. Capital World Investors boosted 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 valued at $3,011,031,000 after acquiring an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after acquiring an additional 64,332 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Fiserv by 1.9% in the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after acquiring an additional 85,598 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Fiserv by 67.2% during the first 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 during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Susquehanna raised their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price objective on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.25.

Insiders Place Their Bets

In other news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fiserv news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,890 shares of company stock valued at $46,968,117 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Up 1.1 %

NYSE FI opened at $203.00 on Wednesday. Fiserv, Inc. has a one year low of $118.42 and a one year high of $204.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The business has a fifty day moving average price of $185.14 and a 200 day moving average price of $165.34. The company has a market cap of $115.49 billion, a P/E ratio of 39.04, a P/E/G ratio of 1.54 and a beta of 0.92.

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

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.