Fiserv, Inc. (NYSE:FI) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lessened its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 10.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,204,653 shares of the business services provider's stock after selling 595,423 shares during the period. Fiserv comprises about 2.0% of Parnassus Investments LLC's portfolio, making the stock its 20th largest holding. Parnassus Investments LLC owned 0.91% of Fiserv worth $935,016,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors grew its position in shares of Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider's stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the last quarter. Maj Invest Holding A S bought a new position in shares of Fiserv in the third quarter valued at approximately $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv in the second quarter valued at approximately $105,031,000. Mizuho Securities USA LLC increased its holdings in shares of 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 purchasing an additional 558,774 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of 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 purchasing an additional 471,531 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Performance

Fiserv stock traded up $2.41 during trading hours on Tuesday, hitting $215.15. 2,609,483 shares of the stock traded hands, compared to its average volume of 2,475,703. 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 moving average price is $192.16 and its 200-day moving average price is $169.12. The stock has a market capitalization of $122.40 billion, a price-to-earnings ratio of 41.64, a P/E/G ratio of 1.61 and a beta of 0.92. Fiserv, Inc. has a 1 year low of $121.86 and a 1 year high of $216.93.

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

Insider Activity

In related news, Director Doyle Simons sold 40,000 shares of the firm's 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 transaction, the director now owns 76,180 shares of the company's stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares of the company's stock, valued at approximately $4,764,211.83. The trade was a 40.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,711 shares of company stock worth $47,477,232. Corporate insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Susquehanna lifted their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a "positive" rating in a report on Friday, October 18th. Jefferies Financial Group boosted their price objective on shares of Fiserv from $195.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price target on shares of Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Mizuho boosted their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, BTIG Research started coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a "buy" rating and a $200.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.52.

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.