Pinnacle Financial Partners Inc Has $12.14 Million Holdings in Fiserv, Inc. (NYSE:FI)

Pinnacle Financial Partners Inc boosted its stake in Fiserv, Inc. (NYSE:FI) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 67,546 shares of the business services provider’s stock after buying an additional 415 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Fiserv were worth $12,135,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bessemer Group Inc. boosted its position in shares of Fiserv by 67.2% in the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after acquiring an additional 1,306,901 shares during the period. Capital World Investors grew its holdings 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 during the period. Maj Invest Holding A S purchased a new stake in shares of Fiserv during the third quarter valued at approximately $172,993,000. Manning & Napier Advisors LLC bought a new stake in shares of Fiserv in the second quarter worth approximately $105,031,000. Finally, American Century Companies Inc. lifted its holdings in Fiserv by 1,642.5% in the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after acquiring an additional 471,531 shares during the period. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FI. Robert W. Baird raised their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. BMO Capital Markets raised their target price on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Susquehanna lifted their price objective on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Finally, Mizuho increased their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.25.

Fiserv Stock Performance

Fiserv stock opened at $213.98 on Wednesday. Fiserv, Inc. has a twelve month low of $121.07 and a twelve month high of $215.45. The stock’s 50 day moving average is $188.98 and its 200 day moving average is $167.41. The company has a market capitalization of $121.74 billion, a P/E ratio of 41.15, a PEG ratio of 1.64 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

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

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the business’s 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 approximately $4,764,211.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,890 shares of company stock worth $46,968,117. 0.75% of the stock is currently owned by company insiders.

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.