Fiserv, Inc. (NYSE:FI) Position Trimmed by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,021 shares of the business services provider's stock after selling 18,490 shares during the quarter. Lord Abbett & CO. LLC owned 0.06% of Fiserv worth $62,522,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider's stock worth $1,696,341,000 after buying an additional 1,427,664 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider's stock worth $1,069,204,000 after purchasing an additional 64,332 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Fiserv by 1.9% in the 2nd 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 last quarter. Sanders Capital LLC acquired a new position in Fiserv during the third quarter worth approximately $764,543,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Fiserv by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider's stock worth $441,173,000 after acquiring an additional 225,159 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Down 0.1 %

Shares of FI traded down $0.19 during trading on Friday, reaching $204.66. The company's stock had a trading volume of 2,536,167 shares, compared to its average volume of 2,530,050. The company has a fifty day moving average of $205.80 and a two-hundred day moving average of $177.16. The company has a market cap of $116.43 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 1.56 and a beta of 0.93. Fiserv, Inc. has a twelve month low of $131.41 and a twelve 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.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price target on Fiserv from $225.00 to $238.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Tigress Financial raised their price target on Fiserv from $190.00 to $244.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley increased their price target on Fiserv from $177.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and a consensus target price of $217.50.

Insider Buying and Selling

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,965,084 shares of the company's stock, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The sale 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 value of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock valued at $44,299,745 in the last quarter. Company insiders own 0.75% of the company's stock.

Fiserv 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.