5,990 Shares in Fiserv, Inc. (NYSE:FI) Acquired by Fortem Financial Group LLC

Fortem Financial Group LLC bought a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,990 shares of the business services provider's stock, valued at approximately $1,076,000.

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

Analyst Ratings Changes

FI has been the subject of a number of research reports. UBS Group lifted their price objective on Fiserv from $185.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. KeyCorp boosted their price target on shares of Fiserv from $180.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on Fiserv from $195.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Four investment 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $217.50.

Insider Activity

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated 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 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 a total of 235,821 shares of company stock worth $44,299,745 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of FI stock traded up $2.42 during mid-day trading on Wednesday, hitting $203.96. The stock had a trading volume of 2,692,575 shares, compared to its average volume of 2,530,802. The firm has a market cap of $116.04 billion, a PE ratio of 39.09, a PEG ratio of 1.58 and a beta of 0.93. The company's 50-day simple moving average is $204.55 and its 200-day simple moving average is $176.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. Fiserv, Inc. has a fifty-two week low of $131.41 and a fifty-two week high of $223.23.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Sell-side analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.