Pitcairn Co. Lowers Holdings in Fiserv, Inc. (NYSE:FI)

Pitcairn Co. trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,643 shares of the business services provider’s stock after selling 581 shares during the quarter. Pitcairn Co.’s holdings in Fiserv were worth $1,732,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new stake in Fiserv in the first quarter valued at $25,000. Family Firm Inc. acquired a new position in shares of Fiserv in the second quarter worth about $31,000. Clean Yield Group raised 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 acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC raised its position in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after acquiring an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Fiserv by 95.5% in the second 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. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Fiserv stock opened at $221.56 on Friday. The firm has a 50 day simple moving average of $195.77 and a 200-day simple moving average of $170.87. Fiserv, Inc. has a 1-year low of $125.42 and a 1-year high of $222.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $126.05 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly 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. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted $1.96 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that Fiserv, Inc. will post 8.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on FI. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Mizuho upped their price objective on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Tigress Financial upped their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup upped their price objective on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Finally, KeyCorp upped their price target on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.29.

Insider Activity

In related news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heidi Miller sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock valued at $44,299,745 in the last 90 days. Company insiders own 0.75% of the company’s stock.

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.