B. Riley Wealth Advisors Inc. Has $1.72 Million Position in Fiserv, Inc. (NYSE:FI)

B. Riley Wealth Advisors Inc. cut its position in Fiserv, Inc. (NYSE:FI) by 49.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,437 shares of the business services provider’s stock after selling 9,231 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Fiserv were worth $1,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanders Capital LLC acquired a new stake in Fiserv during the 3rd quarter worth $764,543,000. FMR LLC raised its position in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Maj Invest Holding A S bought a new position in shares of Fiserv during the 3rd quarter valued at about $172,993,000. Kovitz Investment Group Partners LLC grew its position in shares of Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC grew its position in shares of Fiserv by 1,238.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE FI opened at $203.31 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $115.67 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.56 and a beta of 0.93. Fiserv, Inc. has a 12 month low of $131.41 and a 12 month high of $223.23. The stock has a 50 day moving average of $206.16 and a 200-day moving average of $177.76.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 earnings per share. As a group, equities research analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of research reports. TD Cowen lifted their price target on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. BTIG Research assumed coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target on the stock. Royal Bank of Canada upped their price objective on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price objective on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four equities 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, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $217.50.

Insiders Place Their Bets

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock worth $44,299,745 over the last three months. 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.