Olstein Capital Management L.P. Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Olstein Capital Management L.P. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 30.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the business services provider’s stock after buying an additional 4,000 shares during the period. Olstein Capital Management L.P.’s holdings in Fiserv were worth $3,054,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wellington Shields & Co. LLC purchased a new stake in shares of Fiserv in the 1st quarter worth about $25,000. Family Firm Inc. acquired a new stake in shares of Fiserv during the second quarter worth $31,000. 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 during the period. Cedar Mountain Advisors LLC increased its stake in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position 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 period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the sale, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock worth $46,968,117 in the last quarter. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FI has been the subject of a number of research analyst reports. B. Riley upped their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BTIG Research initiated coverage on Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective for the company. Susquehanna increased their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Finally, StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Four investment 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. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Fiserv Price Performance

FI stock traded down $2.18 during trading hours on Thursday, hitting $209.02. 149,659 shares of the stock traded hands, compared to its average volume of 2,480,017. Fiserv, Inc. has a one year low of $118.42 and a one year high of $211.98. 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 $118.92 billion, a P/E ratio of 40.62, a P/E/G ratio of 1.54 and a beta of 0.92. The stock has a 50-day simple moving average of $185.93 and a 200 day simple moving average of $165.66.

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

Fiserv 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.