Tidal Investments LLC increased its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 10.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 34,032 shares of the business services provider's stock after buying an additional 3,236 shares during the quarter. Tidal Investments LLC's holdings in Fiserv were worth $6,114,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of 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 acquiring an additional 1,427,664 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Fiserv by 0.9% in 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 during the last quarter. Legal & General Group Plc grew its holdings in Fiserv by 1.9% during the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider's stock valued at $687,489,000 after purchasing an additional 85,598 shares during the period. Sanders Capital LLC purchased a new stake in Fiserv in the third quarter worth $764,543,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Fiserv by 8.2% in the second 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 during the period. Institutional investors own 90.98% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on FI shares. Oppenheimer assumed coverage on Fiserv in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $203.00 price objective on the stock. Morgan Stanley upped their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price objective on shares of Fiserv from $225.00 to $238.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Compass Point initiated coverage on Fiserv in a report on Wednesday, November 20th. They set a "buy" rating and a $278.00 target price for the company. Finally, StockNews.com upgraded shares of Fiserv from a "hold" rating to a "buy" rating in a research report on Thursday, September 26th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and an average price target of $217.50.
View Our Latest Stock Report on FI
Insider Activity at Fiserv
In related news, CAO Kenneth Best sold 20,821 shares of the 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 transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction that occurred 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 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 position. 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 90 days. Corporate insiders own 0.75% of the company's stock.
Fiserv Stock Down 0.1 %
Shares of NYSE FI traded down $0.19 during trading on Friday, reaching $204.66. The company had a trading volume of 2,536,167 shares, compared to its average volume of 2,530,050. Fiserv, Inc. has a 12-month low of $131.41 and a 12-month high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The business's 50-day moving average is $205.80 and its 200 day moving average is $176.96. The stock has a market cap of $116.43 billion, a PE ratio of 39.36, a P/E/G ratio of 1.56 and a beta of 0.93.
Fiserv (NYSE:FI - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.96 EPS. As a group, equities analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.
Fiserv Company Profile
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Free Report)
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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