Legacy Private Trust Co. Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Legacy Private Trust Co. trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,615 shares of the business services provider’s stock after selling 2,794 shares during the quarter. Fiserv makes up approximately 0.9% of Legacy Private Trust Co.’s investment portfolio, making the stock its 23rd largest position. Legacy Private Trust Co.’s holdings in Fiserv were worth $13,479,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Clean Yield Group grew its position in shares of Fiserv by 431.3% in the third 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 in the last quarter. Cedar Mountain Advisors LLC boosted its stake in Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after buying an additional 127 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Fiserv in the 3rd quarter valued at $40,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Fiserv in the 3rd quarter worth $44,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

NYSE:FI traded up $1.39 during mid-day trading on Wednesday, reaching $205.21. The stock had a trading volume of 2,435,236 shares, compared to its average volume of 2,110,473. Fiserv, Inc. has a twelve month low of $134.34 and a twelve month high of $223.23. The business has a 50 day simple moving average of $209.42 and a 200 day simple moving average of $184.17. The firm has a market capitalization of $116.75 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating 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 period last year, the firm earned $1.96 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the transaction, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,821 shares of company stock worth $18,581,095. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their target price on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $255.00 price target on shares of Fiserv in a report on Thursday, January 2nd. Susquehanna lifted their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Finally, Mizuho increased their target price on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.88.

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.