Connor Clark & Lunn Investment Management Ltd. Has $17.20 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1,000.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,752 shares of the business services provider's stock after purchasing an additional 87,047 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Fiserv were worth $17,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FI. Maj Invest Holding A S acquired a new stake in Fiserv in the third quarter worth $172,993,000. Manning & Napier Advisors LLC acquired a new stake in Fiserv during the 2nd quarter worth $105,031,000. Mizuho Securities USA LLC lifted its holdings in 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 in the last quarter. American Century Companies Inc. grew its stake in Fiserv by 1,642.5% in the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider's stock valued at $74,556,000 after acquiring an additional 471,531 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider's stock worth $7,147,305,000 after acquiring an additional 417,459 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Insider Activity

In related news, CEO Frank Bisignano sold 145,000 shares of the firm'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 transaction, the chief executive officer now owns 2,965,084 shares of the company's stock, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares of the company's stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % 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 in the last ninety days. Insiders own 0.75% of the company's stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $217.94 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The firm's 50 day simple moving average is $193.96 and its two-hundred day simple moving average is $169.92. The company has a market capitalization of $123.99 billion, a P/E ratio of 41.91, a P/E/G ratio of 1.61 and a beta of 0.92. Fiserv, Inc. has a 1-year low of $124.11 and a 1-year high of $218.18.

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

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. B. Riley upped their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Morgan Stanley upped their target price on shares of Fiserv from $177.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price target on Fiserv from $178.00 to $184.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Barclays upped their price objective on Fiserv from $185.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased their price objective on Fiserv from $183.00 to $224.00 and gave the stock an "outperform" 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus target price 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.

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