Fiserv, Inc. (NYSE:FI) Stake Raised by Associated Banc Corp

Associated Banc Corp lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 447,080 shares of the business services provider’s stock after purchasing an additional 12,937 shares during the quarter. Fiserv comprises approximately 2.4% of Associated Banc Corp’s investment portfolio, making the stock its 7th biggest position. Associated Banc Corp owned 0.08% of Fiserv worth $80,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FI. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv during the first quarter valued at about $25,000. Clean Yield Group boosted its position in shares of Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the period. Cedar Mountain Advisors LLC increased its holdings in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Family Firm Inc. purchased a new stake in Fiserv in the second quarter valued at approximately $31,000. Finally, Kennebec Savings Bank acquired a new position in Fiserv during the third quarter worth $40,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

FI traded down $0.69 during trading on Monday, hitting $220.87. The stock had a trading volume of 68,425 shares, compared to its average volume of 2,470,014. The firm has a market capitalization of $125.66 billion, a P/E ratio of 42.61, a PEG ratio of 1.69 and a beta of 0.92. 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, Inc. has a twelve month low of $125.42 and a twelve month high of $222.05. The company’s 50-day moving average price is $195.77 and its 200 day moving average price is $171.00.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company posted $1.96 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated 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 approximately $15,386,074.60. The trade was a 34.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen increased their target price on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BTIG Research started coverage on shares of Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective for the company. Tigress Financial raised their price target on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Compass Point initiated coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective on the stock. Finally, StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.29.

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.