Raymond James & Associates Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Raymond James & Associates cut its holdings in Fiserv, Inc. (NYSE:FI) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 2,122,231 shares of the business services provider’s stock after selling 35,596 shares during the period. Raymond James & Associates’ holdings in Fiserv were worth $381,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wellington Shields & Co. LLC purchased a new stake in Fiserv during the 1st quarter worth about $25,000. Family Firm Inc. acquired a new stake in shares of Fiserv during the 2nd quarter worth about $31,000. Clean Yield Group grew its holdings 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 worth $31,000 after buying an additional 138 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in shares of Fiserv in the first quarter valued at approximately $32,000. Finally, Cedar Mountain Advisors LLC lifted its stake 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 period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FI. Royal Bank of Canada reiterated an “outperform” rating and issued a $183.00 price target on shares of Fiserv in a report on Wednesday, October 2nd. Susquehanna increased their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday. BMO Capital Markets raised their target price on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays upped their price target on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $187.92.

Fiserv Stock Up 0.8 %

FI traded up $1.55 during trading hours on Friday, reaching $197.29. 3,463,499 shares of the stock traded hands, compared to its average volume of 2,466,895. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $198.86. The company has a market cap of $115.43 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day simple moving average is $177.05 and its two-hundred day simple moving average is $161.16.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period last year, the firm earned $1.81 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated 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 owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,890 shares of company stock worth $32,855,417. 0.75% of the stock is currently owned by insiders.

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.