Integrated Wealth Concepts LLC Reduces Stake in Fiserv, Inc. (NYSE:FI)

Integrated Wealth Concepts LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,793 shares of the business services provider’s stock after selling 595 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Fiserv were worth $2,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Clean Yield Group raised its stake in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC raised its position in shares of Fiserv by 42.5% in 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 period. Family Firm Inc. bought a new stake in shares of Fiserv in the second quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the 3rd quarter valued at approximately $40,000. Finally, Northwest Investment Counselors LLC purchased a new position in Fiserv in the 3rd quarter valued at approximately $44,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 1.6 %

Shares of NYSE FI opened at $207.26 on Friday. The stock has a market capitalization of $117.91 billion, a P/E ratio of 39.86, a PEG ratio of 1.65 and a beta of 0.93. Fiserv, Inc. has a one year low of $130.27 and a one year high of $223.23. The firm’s 50 day simple moving average is $203.11 and its two-hundred day simple moving average is $174.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate 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 net margin of 15.22% and a return on equity of 17.10%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. As a group, analysts expect that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FI shares. The Goldman Sachs Group increased their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday. Susquehanna increased their price objective on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Oppenheimer began coverage on Fiserv in a report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 target price for the company. UBS Group increased their price target on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Tigress Financial boosted their price objective on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.25.

Insider Activity

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction 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 approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by insiders.

Fiserv Company 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.