Sumitomo Mitsui Trust Group Inc. Grows Stake in Fiserv, Inc. (NYSE:FI)

Sumitomo Mitsui Trust Group Inc. increased its position in Fiserv, Inc. (NYSE:FI) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,317,778 shares of the business services provider’s stock after acquiring an additional 4,218 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Fiserv were worth $236,739,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $7,147,305,000 after acquiring an additional 417,459 shares during the period. Capital World Investors increased its position 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 valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after buying an additional 64,332 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Fiserv by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after buying an additional 85,598 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after buying an additional 1,306,901 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Down 0.4 %

FI stock opened at $213.98 on Wednesday. Fiserv, Inc. has a fifty-two week low of $121.07 and a fifty-two week high of $215.45. The company has a market capitalization of $121.74 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The business’s 50 day moving average price is $188.18 and its two-hundred day moving average price is $167.00. 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 posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company earned $1.96 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FI has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen lifted their target price on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp upped their price target on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group raised their price objective on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four equities 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated 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 approximately $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares in the company, valued at $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 a total of 257,890 shares of company stock valued at $46,968,117 in the last three months. Company insiders own 0.75% of the company’s stock.

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.