Pittenger & Anderson Inc. Reduces Stake in Fiserv, Inc. (NYSE:FI)

Pittenger & Anderson Inc. decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,932,579 shares of the business services provider’s stock after selling 61,575 shares during the period. Fiserv accounts for about 19.7% of Pittenger & Anderson Inc.’s portfolio, making the stock its largest position. Pittenger & Anderson Inc. owned 0.52% of Fiserv worth $526,838,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Waypoint Capital Advisors LLC lifted its stake in shares of Fiserv by 1.7% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock worth $560,000 after purchasing an additional 51 shares during the last quarter. Optas LLC raised its holdings in Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after purchasing an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after buying an additional 57 shares during the last quarter. West Bancorporation Inc. boosted its holdings in shares of Fiserv by 3.8% in the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock valued at $296,000 after buying an additional 61 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its position in shares of Fiserv by 6.6% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,066 shares of the business services provider’s stock worth $192,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In other news, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 value of $8,078,800.00. Following the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,890 shares of company stock valued at $46,968,117. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Down 0.6 %

Fiserv stock opened at $200.82 on Tuesday. The business’s 50-day moving average price is $184.49 and its 200 day moving average price is $164.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market cap of $114.25 billion, a price-to-earnings ratio of 38.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $118.42 and a 52 week high of $204.50.

Fiserv (NYSE:FI) last posted its 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. KeyCorp increased their price objective on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Tigress Financial upped their target price on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup raised their price target on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Four research 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.25.

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.