Canoe Financial LP Reduces Stake in Fiserv, Inc. (NYSE:FI)

Canoe Financial LP lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,706 shares of the business services provider’s stock after selling 1,566 shares during the period. Canoe Financial LP’s holdings in Fiserv were worth $34,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FI. Clean Yield Group lifted its holdings in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. 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 valued at $34,000 after purchasing an additional 57 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the 3rd quarter valued at approximately $40,000. Friedenthal Financial bought a new position in Fiserv in the 4th quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in Fiserv in the 3rd quarter valued at approximately $44,000. Institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

FI has been the subject of a number of analyst reports. TD Cowen raised their price target on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their target price on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group increased their price target on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company increased their target price on shares of Fiserv from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Transactions at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, 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. Insiders have sold a total of 90,821 shares of company stock valued at $18,581,095 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Price Performance

FI opened at $208.67 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a market cap of $118.71 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. The stock has a fifty day simple moving average of $209.49 and a two-hundred day simple moving average of $186.34. Fiserv, Inc. has a 12-month low of $136.93 and a 12-month high of $223.23.

Fiserv (NYSE:FI) last issued 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 company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the business earned $1.96 EPS. Fiserv’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

About Fiserv

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.