Horan Capital Advisors LLC. Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Horan Capital Advisors LLC. cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,966 shares of the business services provider’s stock after selling 497 shares during the period. Fiserv makes up approximately 1.7% of Horan Capital Advisors LLC.’s holdings, making the stock its 16th largest holding. Horan Capital Advisors LLC.’s holdings in Fiserv were worth $5,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Fiserv by 3,016.0% in the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after purchasing an additional 3,197 shares during the period. Maxwell Wealth Strategies Inc. boosted its position in Fiserv by 23.6% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after buying an additional 2,869 shares during the last quarter. Park Place Capital Corp boosted its position in Fiserv by 66.3% in the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 2,794 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Fiserv during the third quarter valued at about $1,543,000. Finally, Acadian Asset Management LLC increased its position in shares of Fiserv by 377.3% during the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock worth $9,047,000 after acquiring an additional 44,776 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, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on 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 in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Gibbons sold 18,890 shares of the business’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 value of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 40.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,711 shares of company stock valued at $47,477,232 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

FI has been the subject of a number of analyst reports. KeyCorp increased their price target on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. B. Riley lifted their price target on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their target price on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.52.

Fiserv Stock Up 0.9 %

FI stock opened at $212.77 on Tuesday. The stock has a market cap of $121.05 billion, a PE ratio of 40.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The firm’s 50-day simple moving average is $192.16 and its 200 day simple moving average is $169.12. Fiserv, Inc. has a fifty-two week low of $121.86 and a fifty-two week high of $215.50. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. Fiserv’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. As a group, sell-side analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

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.