Patton Albertson Miller Group LLC Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Patton Albertson Miller Group LLC lowered its position in Fiserv, Inc. (NYSE:FI) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,334 shares of the business services provider’s stock after selling 2,782 shares during the quarter. Fiserv comprises about 1.2% of Patton Albertson Miller Group LLC’s holdings, making the stock its 26th biggest holding. Patton Albertson Miller Group LLC’s holdings in Fiserv were worth $8,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in Fiserv by 11.8% during the third quarter. Bank of Montreal Can now owns 749,711 shares of the business services provider’s stock worth $133,733,000 after buying an additional 79,241 shares during the period. Bowie Capital Management LLC lifted its position in shares of Fiserv by 7.9% during the third quarter. Bowie Capital Management LLC now owns 319,616 shares of the business services provider’s stock worth $57,419,000 after purchasing an additional 23,420 shares in the last quarter. Associated Banc Corp lifted its position in shares of Fiserv by 3.0% during the third quarter. Associated Banc Corp now owns 447,080 shares of the business services provider’s stock worth $80,318,000 after purchasing an additional 12,937 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Fiserv by 87.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,293 shares of the business services provider’s stock valued at $771,000 after acquiring an additional 2,007 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Fiserv by 8.4% in the third quarter. Daiwa Securities Group Inc. now owns 85,412 shares of the business services provider’s stock valued at $15,344,000 after acquiring an additional 6,630 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price target on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Tigress Financial increased their price target on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, twenty-one have issued 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 an average target price of $214.29.

Fiserv Stock Performance

Shares of FI opened at $221.70 on Tuesday. The stock has a market capitalization of $126.13 billion, a P/E ratio of 42.63, a P/E/G ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a 1 year low of $125.42 and a 1 year high of $223.22. The company’s fifty day moving average is $196.70 and its two-hundred day moving average is $171.47. 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 issued 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 company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, sell-side analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the sale, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 34.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,821 shares of company stock worth $44,299,745. Corporate insiders own 0.75% of the company’s stock.

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.