Parkside Financial Bank & Trust grew its holdings in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,023 shares of the business services provider’s stock after acquiring an additional 75 shares during the period. Parkside Financial Bank & Trust’s holdings in Fiserv were worth $600,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FI. Price T Rowe Associates Inc. MD raised its stake in Fiserv by 0.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after buying an additional 417,459 shares in the last quarter. Capital World Investors increased its holdings in shares of Fiserv by 7.4% in the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after acquiring an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Fiserv during the 4th quarter valued at approximately $960,592,000. Veritas Asset Management LLP bought a new position in Fiserv during the fourth quarter worth $927,298,000. Finally, Parnassus Investments LLC acquired a new position in Fiserv in the fourth quarter worth $900,674,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
Analyst Ratings Changes
FI has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research started coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. B. Riley lifted their target price on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $154.00 to $175.00 in a report on Monday, July 22nd. Six 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.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.32.
Insider Activity at Fiserv
In other news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders sold a total of 93,690 shares of company stock valued at $14,833,215 over the last ninety days. Insiders own 0.75% of the company’s stock.
Fiserv Price Performance
FI traded down $1.47 during trading on Friday, reaching $171.04. The stock had a trading volume of 231,932 shares, compared to its average volume of 2,459,665. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $175.47. The firm has a market capitalization of $100.08 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.93. The stock has a 50 day moving average of $160.87 and a two-hundred day moving average of $154.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.
Fiserv (NYSE:FI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. Fiserv’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.81 EPS. As a group, equities analysts anticipate that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.
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.
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