Freedom Investment Management Inc. Sells 122 Shares of Fiserv, Inc. (NYSE:FI)

Freedom Investment Management Inc. cut its stake in Fiserv, Inc. (NYSE:FI) by 2.1% in the third quarter, HoldingsChannel reports. The fund owned 5,802 shares of the business services provider’s stock after selling 122 shares during the period. Freedom Investment Management Inc.’s holdings in Fiserv were worth $1,042,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FI. Wellington Shields & Co. LLC bought a new position in Fiserv in the 1st quarter worth approximately $25,000. Family Firm Inc. acquired a new stake in shares of Fiserv in the 2nd quarter valued at $31,000. Clean Yield Group raised its position in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of 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 acquiring an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of FI stock opened at $220.63 on Thursday. Fiserv, Inc. has a 52 week low of $126.68 and a 52 week high of $223.23. The company has a market capitalization of $125.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.70 and a beta of 0.92. The company has a 50-day simple moving average of $198.55 and a 200 day simple moving average of $172.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last announced 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. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. On average, sell-side analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FI shares. Wells Fargo & Company boosted their price objective on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted 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. UBS Group lifted their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer started coverage on Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.29.

Insider Buying and Selling at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the 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 sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock valued at $44,299,745 in the last quarter. Company insiders own 0.75% of the company’s stock.

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.