Comerica Bank Purchases 2,373 Shares of Fiserv, Inc. (NYSE:FI)

Comerica Bank lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,400 shares of the business services provider’s stock after buying an additional 2,373 shares during the period. Comerica Bank’s holdings in Fiserv were worth $30,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Fiserv by 0.9% during the 1st 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 purchasing an additional 417,459 shares during the period. Capital World Investors raised its stake in shares of Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after acquiring an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Fiserv during the 4th quarter valued at approximately $960,592,000. Veritas Asset Management LLP purchased a new position in shares of Fiserv during the fourth quarter worth $927,298,000. Finally, Parnassus Investments LLC purchased a new stake in shares of Fiserv during the 4th quarter worth about $900,674,000. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the subject of several recent research reports. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $154.00 to $175.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on Fiserv from $169.00 to $176.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Mizuho lifted their target price on shares of Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling at Fiserv

In related news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The disclosure for this sale can be found here. Insiders have sold a total of 50,800 shares of company stock valued at $7,696,448 in the last three months. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Down 0.5 %

NYSE FI traded down $0.84 during mid-day trading on Thursday, hitting $162.73. The company’s stock had a trading volume of 1,142,012 shares, compared to its average volume of 2,508,316. The stock’s fifty day simple moving average is $151.95 and its two-hundred day simple moving average is $150.51. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $165.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $93.69 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. Research analysts expect that Fiserv, Inc. will post 8.73 EPS 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.