CIBC Asset Management Inc Raises Position in Fiserv, Inc. (NYSE:FI)

CIBC Asset Management Inc increased its position in shares of Fiserv, Inc. (NYSE:FI) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,297 shares of the business services provider’s stock after purchasing an additional 5,394 shares during the period. CIBC Asset Management Inc’s holdings in Fiserv were worth $21,432,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new position in shares of Fiserv during the 1st quarter worth $25,000. Family Firm Inc. acquired a new position in Fiserv during the second quarter worth about $31,000. Clean Yield Group increased its holdings in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Buying and Selling

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their position. The transaction 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 business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,711 shares of company stock worth $47,477,232. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.0 %

NYSE FI opened at $210.92 on Friday. The stock has a market cap of $120.00 billion, a P/E ratio of 40.56, a PEG ratio of 1.63 and a beta of 0.92. The company’s fifty day simple moving average is $190.54 and its 200-day simple moving average is $168.03. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 52 week low of $121.86 and a 52 week high of $215.50.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FI. Morgan Stanley raised their price target on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. TD Cowen upped their price target on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho lifted their price objective on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. B. Riley increased their target price on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $207.25.

Fiserv 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.