Logan Capital Management Inc. Decreases Holdings in Fiserv, Inc. (NYSE:FI)

Logan Capital Management Inc. lessened its stake in Fiserv, Inc. (NYSE:FI) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,160 shares of the business services provider’s stock after selling 1,397 shares during the quarter. Logan Capital Management Inc.’s holdings in Fiserv were worth $15,299,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Soros Capital Management LLC grew its stake in Fiserv by 71.7% in the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after buying an additional 22,884 shares in the last quarter. Chiron Investment Management LLC purchased a new position in shares of Fiserv in the third quarter valued at $4,709,000. Maxwell Wealth Strategies Inc. raised its stake in shares of Fiserv by 23.6% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after purchasing an additional 2,869 shares during the period. Park Place Capital Corp lifted its holdings in Fiserv by 66.3% during the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 2,794 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new position in Fiserv in the 3rd quarter worth about $1,543,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock valued at $44,299,745 in the last quarter. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FI. BMO Capital Markets upped their price target on Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. BTIG Research assumed coverage on shares of Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Tigress Financial upped their price target on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Oppenheimer began coverage on Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.50.

Fiserv Trading Down 0.4 %

Shares of NYSE FI traded down $0.80 during midday trading on Friday, reaching $204.05. The company had a trading volume of 210,307 shares, compared to its average volume of 2,520,151. The stock has a market cap of $116.09 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. Fiserv, Inc. has a one year low of $131.41 and a one year high of $223.23. The firm’s fifty day moving average price is $205.41 and its 200-day moving average price is $176.59. 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 released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.