Daiwa Securities Group Inc. Grows Position in Fiserv, Inc. (NYSE:FI)

Daiwa Securities Group Inc. boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 8.4% during the 3rd quarter, Holdings Channel reports. The firm owned 85,412 shares of the business services provider’s stock after acquiring an additional 6,630 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fiserv were worth $15,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Summit Trail Advisors LLC grew its position in Fiserv by 0.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 12,538 shares of the business services provider’s stock worth $2,252,000 after purchasing an additional 95 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Fiserv by 25.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,424 shares of the business services provider’s stock valued at $435,000 after acquiring an additional 493 shares during the period. Larson Financial Group LLC lifted its stake in Fiserv by 17.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the business services provider’s stock valued at $330,000 after acquiring an additional 274 shares during the period. Swedbank AB lifted its stake in Fiserv by 2.3% during the 3rd quarter. Swedbank AB now owns 335,770 shares of the business services provider’s stock valued at $60,321,000 after acquiring an additional 7,603 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in Fiserv by 3.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,035 shares of the business services provider’s stock valued at $1,084,000 after acquiring an additional 192 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $221.56 on Monday. Fiserv, Inc. has a fifty-two week low of $125.42 and a fifty-two week high of $222.05. The stock has a market capitalization of $126.05 billion, a PE ratio of 42.61, a P/E/G ratio of 1.69 and a beta of 0.92. The company has a fifty day moving average of $195.77 and a two-hundred day moving average of $171.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last released its 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 business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In related news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock valued at $44,299,745 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on FI. TD Cowen lifted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. KeyCorp lifted their price objective on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Finally, Oppenheimer began coverage on shares of Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $214.29.

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.