Fiserv, Inc. (NYSE:FI) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,460 shares of the business services provider’s stock after acquiring an additional 15,103 shares during the quarter. M&T Bank Corp’s holdings in Fiserv were worth $25,234,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Clean Yield Group boosted its holdings in 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 acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC raised its holdings 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 worth $34,000 after purchasing an additional 57 shares during the period. Family Firm Inc. acquired a new position in shares of Fiserv in the 2nd quarter valued at about $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the 3rd quarter worth about $40,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Fiserv during the 3rd quarter worth about $44,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s 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 completion of the sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. 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 in the last three months. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

FI has been the topic of several research reports. Royal Bank of Canada raised their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen raised their target price on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. UBS Group raised their price objective on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Oppenheimer started coverage on Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective on the stock. Four equities research 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 stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.50.

Fiserv Stock Down 0.7 %

Fiserv stock opened at $201.57 on Wednesday. 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, Inc. has a one year low of $131.41 and a one year high of $223.23. The company has a 50-day simple moving average of $204.15 and a 200-day simple moving average of $175.83. The firm has a market capitalization of $114.68 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.58 and a beta of 0.93.

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

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.