Geode Capital Management LLC Cuts Position in Fiserv, Inc. $FI

Geode Capital Management LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,121,353 shares of the business services provider’s stock after selling 614,564 shares during the quarter. Geode Capital Management LLC’s holdings in Fiserv were worth $2,081,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Activest Wealth Management increased its stake in Fiserv by 3,150.0% in the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 126 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Fiserv in the second quarter valued at about $34,000. Christopher J. Hasenberg Inc increased its stake in shares of Fiserv by 218.5% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Fiserv by 178.9% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Fiserv by 960.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 244 shares of the business services provider’s stock valued at $42,000 after buying an additional 221 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In other news, Director Lance M. Fritz bought 10,000 shares of Fiserv stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $65.18 per share, with a total value of $651,800.00. Following the completion of the transaction, the director owned 13,086 shares in the company, valued at approximately $852,945.48. This trade represents a 324.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Fiserv Trading Down 0.1%

NYSE FI opened at $63.66 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.08. The firm has a market capitalization of $34.24 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.56 and a beta of 0.90. The company’s 50 day moving average price is $115.84 and its 200 day moving average price is $144.14. Fiserv, Inc. has a one year low of $60.95 and a one year high of $238.59.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The firm had revenue of $4.32 billion during the quarter. On average, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

FI has been the subject of a number of analyst reports. Compass Point cut Fiserv from a “strong-buy” rating to a “neutral” rating and set a $127.50 price target for the company. in a report on Wednesday, October 29th. Morgan Stanley set a $81.00 target price on shares of Fiserv and gave the company an “equal weight” rating in a report on Thursday, October 30th. Jefferies Financial Group lowered their price target on shares of Fiserv from $130.00 to $125.00 and set a “hold” rating for the company in a report on Monday, October 13th. Royal Bank Of Canada set a $85.00 target price on shares of Fiserv and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Robert W. Baird cut their price target on Fiserv from $225.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, July 24th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $127.28.

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.