CIBC Asset Management Inc Increases Stake in Fiserv, Inc. (NYSE:FI)

CIBC Asset Management Inc boosted its position in Fiserv, Inc. (NYSE:FI - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,297 shares of the business services provider's stock after acquiring an additional 5,394 shares during the period. CIBC Asset Management Inc's holdings in Fiserv were worth $21,432,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv in the 1st quarter worth about $25,000. Clean Yield Group increased its holdings in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider's stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock worth $34,000 after purchasing an additional 57 shares during the last quarter. Family Firm Inc. bought a new position in shares of Fiserv in the second quarter valued at approximately $31,000. Finally, Kennebec Savings Bank purchased a new position in shares of Fiserv during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on FI shares. KeyCorp increased their price target on Fiserv from $180.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Stephens raised their price target on shares of Fiserv from $170.00 to $200.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Fiserv from $175.00 to $191.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. UBS Group lifted their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. 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 investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and an average price target of $207.25.

Fiserv Price Performance

NYSE FI traded up $0.07 during trading hours on Friday, hitting $210.92. The company had a trading volume of 2,279,330 shares, compared to its average volume of 2,478,375. The firm has a 50 day simple moving average of $191.36 and a 200 day simple moving average of $168.43. Fiserv, Inc. has a 52 week low of $121.86 and a 52 week high of $215.50. The firm has a market capitalization of $120.00 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI - Get Free Report) last issued 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 company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. Fiserv's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 earnings per share. Equities research analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Buying and Selling

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 40.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,711 shares of company stock worth $47,477,232 over the last ninety days. 0.75% of the stock is owned by corporate insiders.

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.