Patton Albertson Miller Group LLC Sells 2,782 Shares of Fiserv, Inc. (NYSE:FI)

Patton Albertson Miller Group LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,334 shares of the business services provider's stock after selling 2,782 shares during the quarter. Fiserv accounts for approximately 1.2% of Patton Albertson Miller Group LLC's holdings, making the stock its 26th largest holding. Patton Albertson Miller Group LLC's holdings in Fiserv were worth $8,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Shields & Co. LLC bought a new stake in Fiserv in the 1st quarter valued at about $25,000. Family Firm Inc. acquired a new stake in Fiserv in the 2nd quarter valued at approximately $31,000. Clean Yield Group boosted its position in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider's stock worth $31,000 after acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC grew its stake in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock worth $34,000 after purchasing an additional 57 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider's stock valued at $39,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Up 0.7 %

Shares of FI traded up $1.45 on Tuesday, reaching $223.21. The stock had a trading volume of 906,770 shares, compared to its average volume of 2,481,618. The company has a 50-day simple moving average of $196.70 and a 200-day simple moving average of $171.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $126.99 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a 12-month low of $125.42 and a 12-month high of $223.22.

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 for the quarter, topping 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 return on equity of 17.10% and a net margin of 15.22%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. Sell-side analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction 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 completion of the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % 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 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FI shares. Susquehanna boosted their price objective on Fiserv from $190.00 to $230.00 and gave the stock a "positive" rating in a research note on Friday, October 18th. Morgan Stanley boosted their target price on shares of Fiserv from $177.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their target price on shares of Fiserv from $195.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Fiserv from $183.00 to $224.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on Fiserv from $215.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.29.

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.