Sompo Asset Management Co. Ltd. Lowers Stake in Fiserv, Inc. (NYSE:FI)

Sompo Asset Management Co. Ltd. lessened its holdings in Fiserv, Inc. (NYSE:FI) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,380 shares of the business services provider’s stock after selling 420 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Fiserv were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FI. Massachusetts Financial Services Co. MA lifted its holdings in Fiserv by 0.9% during the second 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 purchasing an additional 64,332 shares in the last quarter. Legal & General Group Plc raised its position 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 worth $687,489,000 after purchasing an additional 85,598 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Fiserv by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock valued at $441,173,000 after buying an additional 225,159 shares in the last quarter. Blair William & Co. IL boosted its holdings in Fiserv by 2.5% in the 2nd quarter. Blair William & Co. IL now owns 2,171,391 shares of the business services provider’s stock worth $323,624,000 after buying an additional 52,748 shares during the last quarter. Finally, Raymond James & Associates increased its stake in Fiserv by 1.0% during the 2nd quarter. Raymond James & Associates now owns 2,157,827 shares of the business services provider’s stock worth $321,602,000 after buying an additional 20,591 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock worth $44,299,745 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Fiserv Price Performance

FI stock opened at $221.56 on Monday. The business has a 50 day simple moving average of $195.77 and a 200-day simple moving average of $171.00. Fiserv, Inc. has a twelve month low of $125.42 and a twelve month high of $222.05. The company has a market capitalization of $126.05 billion, a P/E ratio of 42.61, a PEG ratio of 1.66 and a beta of 0.92. 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 (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.96 earnings per share. As a group, equities analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FI shares. BTIG Research began coverage on shares of Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price for the company. Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup lifted their target price on shares of Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Finally, Susquehanna increased their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

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.