M&T Bank Corp Acquires 15,103 Shares of Fiserv, Inc. (NYSE:FI)

M&T Bank Corp lifted its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,460 shares of the business services provider's stock after acquiring an additional 15,103 shares during the quarter. M&T Bank Corp's holdings in Fiserv were worth $25,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC boosted its holdings in shares of Fiserv by 3.0% in the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider's stock worth $302,737,000 after acquiring an additional 48,413 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Fiserv by 21.0% in the 3rd quarter. Continuum Advisory LLC now owns 1,160 shares of the business services provider's stock worth $208,000 after acquiring an additional 201 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Fiserv by 2,305.9% in the 3rd quarter. LRI Investments LLC now owns 20,426 shares of the business services provider's stock worth $3,670,000 after acquiring an additional 19,577 shares in the last quarter. Drucker Wealth 3.0 LLC boosted its holdings in shares of Fiserv by 4.5% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 4,803 shares of the business services provider's stock worth $863,000 after acquiring an additional 205 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Fiserv by 6.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 173,054 shares of the business services provider's stock worth $31,089,000 after acquiring an additional 9,838 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares of the company's stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of the firm's 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 transaction, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This 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 in the last three months. Insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FI shares. The Goldman Sachs Group upped their price objective on Fiserv from $208.00 to $231.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Mizuho upped their price objective on Fiserv from $183.00 to $222.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Stephens upped their price objective on Fiserv from $170.00 to $200.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Fiserv from $199.00 to $227.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped 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 investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $217.50.

Fiserv Trading Up 1.2 %

Shares of FI traded up $2.42 during trading hours on Wednesday, reaching $203.96. The stock had a trading volume of 2,685,736 shares, compared to its average volume of 2,530,917. The company has a market cap of $116.04 billion, a P/E ratio of 39.09, a P/E/G ratio of 1.58 and a beta of 0.93. 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, Inc. has a 52 week low of $131.41 and a 52 week high of $223.23. The firm has a 50-day moving average of $204.55 and a 200 day moving average of $176.19.

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

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.