SFE Investment Counsel Sells 979 Shares of Fiserv, Inc. (NYSE:FI)

SFE Investment Counsel cut its position in shares of Fiserv, Inc. (NYSE:FI) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,337 shares of the business services provider’s stock after selling 979 shares during the period. SFE Investment Counsel’s holdings in Fiserv were worth $4,969,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FI. Price T Rowe Associates Inc. MD acquired a new stake in Fiserv during the fourth quarter valued at approximately $5,885,279,000. Capital World Investors bought a new stake in Fiserv in the fourth quarter valued at $2,329,623,000. Massachusetts Financial Services Co. MA acquired a new position in Fiserv during the fourth quarter worth $960,592,000. Veritas Asset Management LLP bought a new position in shares of Fiserv during the fourth quarter valued at $927,298,000. Finally, Parnassus Investments LLC bought a new stake in shares of Fiserv in the 4th quarter worth about $900,674,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of FI opened at $170.05 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $161.29 and its 200 day simple moving average is $154.99. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $175.47. The company has a market cap of $99.50 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 1.41 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter last year, the company posted $1.81 earnings per share. Fiserv’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FI shares. Wells Fargo & Company increased their price target on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, KeyCorp raised their price objective on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.32.

Insider Buying and Selling

In other news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,690 shares of company stock valued at $14,833,215. Company insiders own 0.75% of the company’s stock.

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.