Fiserv, Inc. (NYSE:FI) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lowered its position in Fiserv, Inc. (NYSE:FI) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,189 shares of the business services provider’s stock after selling 126 shares during the quarter. Fiserv accounts for approximately 1.2% of Ironwood Investment Counsel LLC’s holdings, making the stock its 20th biggest holding. Ironwood Investment Counsel LLC’s holdings in Fiserv were worth $7,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FI. Waypoint Capital Advisors LLC increased its stake 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 worth $560,000 after buying an additional 51 shares during the last quarter. Optas LLC increased its position in shares of Fiserv by 1.7% in the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after purchasing an additional 54 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Fiserv by 42.5% in the 3rd 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 lifted its position in shares of Fiserv by 7.6% during the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock worth $150,000 after purchasing an additional 59 shares during the last quarter. Finally, West Bancorporation Inc. grew its stake in Fiserv by 3.8% in the third quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after purchasing an additional 61 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on FI shares. Mizuho increased their target price on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stephens raised their price objective on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna boosted 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 given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Price Performance

NYSE:FI opened at $220.96 on Friday. 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 business’s 50-day moving average price is $200.25 and its 200 day moving average price is $173.09. Fiserv, Inc. has a 52-week low of $128.43 and a 52-week high of $223.23. The firm has a market cap of $125.71 billion, a P/E ratio of 42.49, a PEG ratio of 1.70 and a beta of 0.92.

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

Insider Activity

In related news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of Fiserv 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 transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,821 shares of company stock worth $44,299,745. Insiders own 0.75% of the company’s stock.

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.