Chesapeake Wealth Management Sells 119 Shares of Fiserv, Inc. (NYSE:FI)

Chesapeake Wealth Management cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,664 shares of the business services provider’s stock after selling 119 shares during the quarter. Chesapeake Wealth Management’s holdings in Fiserv were worth $958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Soros Capital Management LLC raised its holdings in Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after acquiring an additional 22,884 shares during the period. Czech National Bank raised its holdings in Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after acquiring an additional 6,072 shares during the period. Chiron Investment Management LLC bought a new stake in Fiserv during the third quarter valued at about $4,709,000. Cardano Risk Management B.V. bought a new stake in Fiserv during the fourth quarter valued at about $97,254,000. Finally, Maxwell Wealth Strategies Inc. raised its holdings in Fiserv by 23.6% during the third quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after acquiring an additional 2,869 shares during the period. 90.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Fiserv

In other news, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This trade represents a 47.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,821 shares of company stock valued at $18,581,095 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FI. KeyCorp raised their price target on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Susquehanna lifted their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. UBS Group lifted their target price on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on Fiserv from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Fiserv Stock Performance

NYSE:FI opened at $208.67 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $118.71 billion, a P/E ratio of 40.13, a PEG ratio of 1.37 and a beta of 0.94. The company has a 50 day moving average price of $209.45 and a 200 day moving average price of $187.30. Fiserv, Inc. has a fifty-two week low of $136.93 and a fifty-two week high of $223.23.

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

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.