Fiserv, Inc. (NYSE:FI) Stake Lowered by Headinvest LLC

Headinvest LLC lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,397 shares of the business services provider’s stock after selling 1,480 shares during the period. Fiserv accounts for approximately 2.2% of Headinvest LLC’s investment portfolio, making the stock its 8th biggest holding. Headinvest LLC’s holdings in Fiserv were worth $12,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sanders Capital LLC purchased a new stake in Fiserv in the third quarter valued at $764,543,000. FMR LLC increased its position in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Maj Invest Holding A S purchased a new stake in shares of Fiserv in the 3rd quarter valued at about $172,993,000. Kovitz Investment Group Partners LLC boosted its position in shares of Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC grew its stake in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after buying an additional 558,774 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 1.6 %

Shares of NYSE FI opened at $207.28 on Friday. 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 firm has a 50-day moving average price of $203.68 and a 200 day moving average price of $175.30. Fiserv, Inc. has a 52 week low of $130.27 and a 52 week high of $223.23. The stock has a market capitalization of $117.93 billion, a price-to-earnings ratio of 39.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.96 EPS. Equities research analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 $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 ninety days, insiders have sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FI shares. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Stephens upped their target price on shares of Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, BMO Capital Markets increased their target price on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price 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.