Cobblestone Capital Advisors LLC NY Acquires New Shares in Fiserv, Inc. (NYSE:FI)

Cobblestone Capital Advisors LLC NY bought a new position in Fiserv, Inc. (NYSE:FI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,310 shares of the business services provider’s stock, valued at approximately $235,000.

A number of other hedge funds have also added to or reduced their stakes in FI. Family Firm Inc. purchased a new position in Fiserv during the second quarter valued at approximately $31,000. Clean Yield Group boosted its holdings in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the period. Cedar Mountain Advisors LLC increased its holdings 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 worth $34,000 after purchasing an additional 57 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares during the period. Finally, Kennebec Savings Bank bought a new stake in Fiserv during the third quarter valued at $40,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $220.96 on Monday. 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 company has a market cap of $125.71 billion, a price-to-earnings ratio of 42.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a 12 month low of $128.43 and a 12 month high of $223.23. The company has a 50-day moving average price of $200.25 and a 200-day moving average price of $173.36.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share 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 analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $1.96 EPS. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FI. Stephens upped their target price on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Tigress Financial upped their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup lifted their target price on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Mizuho raised their price objective on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.29.

Insider Activity at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s 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 transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock worth $44,299,745 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

About Fiserv

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.