Patton Albertson Miller Group LLC Trims Holdings in Fiserv, Inc. (NYSE:FI)

Patton Albertson Miller Group LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,334 shares of the business services provider’s stock after selling 2,782 shares during the quarter. Fiserv comprises about 1.2% of Patton Albertson Miller Group LLC’s holdings, making the stock its 26th largest position. Patton Albertson Miller Group LLC’s holdings in Fiserv were worth $8,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of FI. Quent Capital LLC increased its stake in shares of Fiserv by 5.9% during the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after acquiring an additional 68 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Fiserv by 3.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,855 shares of the business services provider’s stock valued at $2,854,000 after acquiring an additional 513 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Fiserv by 30.1% during the 1st quarter. Tidal Investments LLC now owns 36,199 shares of the business services provider’s stock valued at $5,783,000 after acquiring an additional 8,377 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Fiserv during the 1st quarter worth approximately $218,000. Finally, SkyView Investment Advisors LLC acquired a new stake in Fiserv during the 1st quarter worth approximately $718,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FI. Morgan Stanley increased 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. Compass Point began coverage on shares of Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price for the company. BTIG Research began coverage on shares of Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 target price for the company. Stephens increased their target price on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Susquehanna increased their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 SEC, which is accessible through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,821 shares of company stock valued at $44,299,745. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $221.70 on Tuesday. The stock has a market capitalization of $126.13 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The business’s fifty day moving average price is $196.70 and its 200 day moving average price is $171.47. Fiserv, Inc. has a 12-month low of $125.42 and a 12-month high of $223.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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 return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

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.