Caprock Group LLC Cuts Stake in Fiserv, Inc. (NYSE:FI)

Caprock Group LLC reduced its stake in Fiserv, Inc. (NYSE:FI) by 8.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 14,022 shares of the business services provider’s stock after selling 1,228 shares during the quarter. Caprock Group LLC’s holdings in Fiserv were worth $2,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Shields & Co. LLC purchased a new position in shares of Fiserv in the 1st quarter worth about $25,000. Family Firm Inc. purchased a new position in shares of Fiserv in the 2nd quarter worth about $31,000. Clean Yield Group lifted its holdings in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the firm’s 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 sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on FI. Robert W. Baird upped their price objective on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Susquehanna upped their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.52.

Fiserv Stock Performance

FI stock opened at $215.15 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $193.02 and its two-hundred day simple moving average is $169.59. Fiserv, Inc. has a twelve month low of $121.86 and a twelve month high of $216.93. The firm has a market cap of $122.40 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 1.61 and a beta of 0.92.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. Analysts predict 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.