Brookstone Capital Management Sells 31,484 Shares of Fiserv, Inc. (NYSE:FI)

Brookstone Capital Management reduced its position in Fiserv, Inc. (NYSE:FI - Free Report) by 78.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,822 shares of the business services provider's stock after selling 31,484 shares during the quarter. Brookstone Capital Management's holdings in Fiserv were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In related news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated 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 sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares of the company's stock, valued at approximately $6,684,555.55. This trade represents a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,821 shares of company stock worth $18,581,095 in the last three months. Corporate insiders own 0.75% of the company's stock.

Fiserv Trading Up 1.0 %

Shares of FI stock traded up $1.96 on Thursday, reaching $206.21. 2,530,945 shares of the company's stock were exchanged, compared to its average volume of 2,417,465. The company's fifty day simple moving average is $209.55 and its 200 day simple moving average is $186.20. The stock has a market capitalization of $117.32 billion, a PE ratio of 39.66, a P/E/G ratio of 1.32 and a beta of 0.94. 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 52 week low of $136.48 and a 52 week high of $223.23.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on Fiserv from $185.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Oppenheimer raised their price target on Fiserv from $214.00 to $239.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Robert W. Baird upped their price objective on Fiserv from $186.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Finally, TD Cowen raised their target price on shares of Fiserv from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $224.00.

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.