Fiserv, Inc. (NYSE:FI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,909,292 shares of the business services provider’s stock after selling 264,649 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.21% of Fiserv worth $1,241,254,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FI. King Luther Capital Management Corp raised its holdings in Fiserv by 20.0% during the third quarter. King Luther Capital Management Corp now owns 142,280 shares of the business services provider’s stock worth $25,561,000 after purchasing an additional 23,673 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Fiserv by 1.8% in the third quarter. Citizens Financial Group Inc. RI now owns 12,824 shares of the business services provider’s stock valued at $2,304,000 after buying an additional 222 shares during the period. Darwin Wealth Management LLC bought a new position in Fiserv during the third quarter valued at about $1,449,000. First Horizon Advisors Inc. grew its holdings in Fiserv by 3.9% during the third quarter. First Horizon Advisors Inc. now owns 17,089 shares of the business services provider’s stock worth $3,070,000 after acquiring an additional 645 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Fiserv by 4.2% in the third quarter. Advisors Asset Management Inc. now owns 58,886 shares of the business services provider’s stock worth $10,579,000 after acquiring an additional 2,373 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of NYSE:FI opened at $217.94 on Thursday. The business has a fifty day simple moving average of $193.96 and a 200 day simple moving average of $169.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 1 year low of $124.11 and a 1 year high of $218.18. The firm has a market cap of $123.99 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 1.64 and a beta of 0.92.

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

Insiders Place Their Bets

In other news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock valued at $44,299,745 over the last ninety days. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FI. Compass Point assumed coverage on shares of Fiserv in a research note on Wednesday. They issued a “buy” rating and a $278.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Oppenheimer assumed coverage on Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

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.