King Luther Capital Management Corp Grows Position in Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 20.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,280 shares of the business services provider’s stock after acquiring an additional 23,673 shares during the quarter. King Luther Capital Management Corp’s holdings in Fiserv were worth $25,561,000 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. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 417,459 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Fiserv by 0.9% during 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 purchasing an additional 64,332 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Fiserv by 1.9% during 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 in the last quarter. Dimensional Fund Advisors LP raised its position in Fiserv by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after purchasing an additional 225,159 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Fiserv by 2.5% during the 2nd quarter. Blair William & Co. IL now owns 2,171,391 shares of the business services provider’s stock valued at $323,624,000 after acquiring an additional 52,748 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE:FI opened at $217.55 on Friday. The stock has a 50-day moving average price of $194.83 and a 200 day moving average price of $170.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 12-month low of $125.05 and a 12-month high of $219.11. The stock has a market capitalization of $123.77 billion, a P/E ratio of 41.84, a P/E/G ratio of 1.64 and a beta of 0.92.

Fiserv (NYSE:FI) last announced its quarterly 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. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 EPS. Equities research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Activity at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction dated 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 owns 33,235 shares in the company, valued at $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock valued at $44,299,745 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FI shares. UBS Group boosted their price objective on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday. Compass Point assumed coverage on Fiserv in a research report on Wednesday. They issued a “buy” rating and a $278.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Tigress Financial raised their price target on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four 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’s stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

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.