Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,918 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Fiserv were worth $1,602,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Wellington Shields & Co. LLC bought a new stake in Fiserv in the 1st quarter valued at approximately $25,000. Family Firm Inc. bought a new stake in shares of Fiserv in the second quarter worth $31,000. Clean Yield Group lifted its position in shares of Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in 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 purchasing an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.
Insider Buying and Selling at Fiserv
In other news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This represents a 40.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,711 shares of company stock worth $47,477,232 over the last three months. Insiders own 0.75% of the company’s stock.
Fiserv Stock Performance
Fiserv (NYSE:FI – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FI. BTIG Research initiated coverage on Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 target price on the stock. BMO Capital Markets raised their target price on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Robert W. Baird raised their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. TD Cowen increased their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, 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. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average price target of $207.25.
Check Out Our Latest Report on Fiserv
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.
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