Manning & Napier Advisors LLC Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Manning & Napier Advisors LLC cut its holdings in Fiserv, Inc. (NYSE:FI) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 521,957 shares of the business services provider’s stock after selling 175,212 shares during the quarter. Fiserv accounts for approximately 1.2% of Manning & Napier Advisors LLC’s holdings, making the stock its 28th largest position. Manning & Napier Advisors LLC owned approximately 0.09% of Fiserv worth $107,220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group boosted its position in shares of 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 buying an additional 138 shares during the period. Cedar Mountain Advisors LLC increased its position in shares of 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 acquiring an additional 57 shares during the period. Newbridge Financial Services Group Inc. grew its position in Fiserv by 95.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares during the period. Kennebec Savings Bank acquired a new stake in Fiserv during the 3rd quarter worth about $40,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Fiserv during the 3rd quarter worth about $44,000. 90.98% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction 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 directly owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Tigress Financial lifted their target price on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Stephens reissued an “overweight” rating and issued a $255.00 price target on shares of Fiserv in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Fiserv Price Performance

Shares of FI traded up $1.23 during mid-day trading on Wednesday, hitting $212.95. The company’s stock had a trading volume of 191,651 shares, compared to its average volume of 2,290,930. Fiserv, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $223.23. The stock has a market capitalization of $121.15 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 1.37 and a beta of 0.94. 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 firm has a 50-day moving average price of $208.96 and a 200 day moving average price of $190.20.

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.