Quantinno Capital Management LP Purchases 6,722 Shares of Fiserv, Inc. (NYSE:FI)

Quantinno Capital Management LP raised its position in Fiserv, Inc. (NYSE:FI) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,972 shares of the business services provider’s stock after buying an additional 6,722 shares during the quarter. Quantinno Capital Management LP’s holdings in Fiserv were worth $7,361,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Waypoint Capital Advisors LLC grew its position in shares of Fiserv by 1.7% in the third quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock valued at $560,000 after purchasing an additional 51 shares in the last quarter. Optas LLC grew its position in shares of Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock valued at $578,000 after purchasing an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC grew 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 in the last quarter. Covestor Ltd grew its position in shares of Fiserv by 7.6% in the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 59 shares in the last quarter. Finally, West Bancorporation Inc. grew its position in shares of Fiserv by 3.8% in the third quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 61 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was 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 owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 235,821 shares of company stock valued at $44,299,745. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 1.6 %

NYSE FI opened at $207.26 on Friday. Fiserv, Inc. has a 1-year low of $130.27 and a 1-year high of $223.23. 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 stock has a 50-day moving average of $203.11 and a 200-day moving average of $174.76. The firm has a market cap of $117.91 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93.

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

Analyst Upgrades and Downgrades

FI has been the subject of several recent research reports. Mizuho lifted their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays lifted their price target on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Tigress Financial boosted their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna boosted their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.25.

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.