Drake & Associates LLC Has $463,000 Holdings in Fiserv, Inc. (NYSE:FI)

Drake & Associates LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 29.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,576 shares of the business services provider’s stock after acquiring an additional 589 shares during the period. Drake & Associates LLC’s holdings in Fiserv were worth $463,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norden Group LLC bought a new stake in shares of Fiserv during the 1st quarter worth about $2,359,000. ORG Partners LLC boosted its position in Fiserv by 3,016.0% during the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after purchasing an additional 3,197 shares during the period. ZRC Wealth Management LLC acquired a new position in Fiserv during the first quarter valued at approximately $32,000. Park Place Capital Corp raised its position in shares of Fiserv by 66.3% in the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after purchasing an additional 2,794 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Fiserv by 377.3% in the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock worth $9,047,000 after buying an additional 44,776 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FI. B. Riley lifted their target price on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Oppenheimer started coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Finally, BTIG Research initiated coverage on Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.38.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,890 shares of company stock valued at $32,855,417 in the last three months. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Down 1.0 %

Shares of NYSE:FI opened at $195.73 on Friday. The company’s fifty day moving average is $176.34 and its 200-day moving average is $160.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $198.86. The company has a market capitalization of $114.52 billion, a PE ratio of 36.59, a P/E/G ratio of 1.44 and a beta of 0.93.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

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.