Voya Financial Advisors Inc. Reduces Position in Fiserv, Inc. (NYSE:FI)

Voya Financial Advisors Inc. trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,520 shares of the business services provider’s stock after selling 61 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Fiserv were worth $1,163,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FI. Family Firm Inc. purchased a new stake in shares of Fiserv during the second quarter worth about $31,000. Clean Yield Group increased 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 increased its position 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 worth $34,000 after acquiring an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in shares of Fiserv during the third quarter worth about $40,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Shares of NYSE FI opened at $204.07 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $203.11 and a 200-day simple moving average of $174.76. The company has a market cap of $116.10 billion, a PE ratio of 39.24, a P/E/G ratio of 1.65 and a beta of 0.93. Fiserv, Inc. has a 12-month low of $130.09 and a 12-month high of $223.23.

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. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, equities research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Insiders Place Their Bets

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company’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 transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 34.43 % 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 ninety days. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FI. TD Cowen boosted their price objective on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. BTIG Research began coverage on Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective for the company. Oppenheimer began coverage on Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.25.

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.