Fiserv, Inc. (NYSE:FI) Shares Sold by MAI Capital Management

MAI Capital Management lowered its position in Fiserv, Inc. (NYSE:FI) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,792 shares of the business services provider’s stock after selling 1,064 shares during the quarter. MAI Capital Management’s holdings in Fiserv were worth $6,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised 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 acquiring an additional 3,197 shares during the last quarter. Maxwell Wealth Strategies Inc. raised its position in shares of Fiserv by 23.6% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock worth $2,696,000 after purchasing an additional 2,869 shares during the last quarter. Park Place Capital Corp lifted its stake in Fiserv by 66.3% in the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 2,794 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in Fiserv during the 3rd quarter valued at $1,543,000. Finally, Acadian Asset Management LLC increased its position in Fiserv by 377.3% during 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 in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FI. BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. William Blair upgraded shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. B. Riley upped their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird increased their price target on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average target price of $211.52.

Insiders Place Their Bets

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 254,711 shares of company stock worth $47,477,232 in the last quarter. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

Shares of NYSE FI opened at $212.77 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. Fiserv, Inc. has a 1-year low of $121.86 and a 1-year high of $215.50. The company has a market capitalization of $121.05 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 1.61 and a beta of 0.92. The business has a 50-day moving average of $192.16 and a 200-day moving average of $169.12.

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

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.