Fiserv, Inc. (NYSE:FI) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 922,010 shares of the business services provider's stock after selling 2,760 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Fiserv worth $165,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Family Firm Inc. purchased a new stake in Fiserv during the 2nd quarter worth $31,000. Clean Yield Group grew its stake in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider's stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider's stock worth $34,000 after acquiring an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Fiserv by 95.5% in 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 last quarter. Finally, Kennebec Savings Bank acquired a new stake in Fiserv during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Fiserv from $215.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Tigress Financial increased their price target on shares of Fiserv from $190.00 to $244.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. StockNews.com upgraded Fiserv from a "hold" rating to a "buy" rating in a research note on Thursday, September 26th. Finally, TD Cowen upped their price objective on Fiserv from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $222.88.

Fiserv Stock Performance

Shares of FI traded up $3.79 during trading hours on Friday, reaching $206.05. 6,751,704 shares of the company's stock traded hands, compared to its average volume of 2,560,688. The firm has a market capitalization of $117.23 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.56 and a beta of 0.93. The business's fifty day simple moving average is $207.37 and its two-hundred day simple moving average is $178.87. Fiserv, Inc. has a twelve month low of $131.41 and a twelve month high of $223.23. 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 (NYSE:FI - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 15.22% and a return on equity of 17.10%. Fiserv's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. Analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was 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 owns 38,771 shares of the company's stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is owned by corporate insiders.

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.