Empire Life Investments Inc. Sells 47,791 Shares of Fiserv, Inc. (NYSE:FI)

Empire Life Investments Inc. trimmed its stake in shares of Fiserv, Inc. (NYSE:FI) by 20.1% during the third quarter, Holdings Channel reports. The firm owned 189,532 shares of the business services provider’s stock after selling 47,791 shares during the period. Fiserv comprises 2.1% of Empire Life Investments Inc.’s holdings, making the stock its 14th biggest holding. Empire Life Investments Inc.’s holdings in Fiserv were worth $34,049,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FI. ORG Partners LLC grew its holdings in Fiserv by 3,016.0% during the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after acquiring an additional 3,197 shares during the last quarter. Park Place Capital Corp boosted its position in shares of Fiserv by 66.3% during the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 2,794 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Fiserv by 377.3% during the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock worth $9,047,000 after purchasing an additional 44,776 shares in the last quarter. Choate Investment Advisors increased its position in shares of Fiserv by 80.6% in the 1st quarter. Choate Investment Advisors now owns 81,441 shares of the business services provider’s stock valued at $13,016,000 after buying an additional 36,347 shares in the last quarter. Finally, BDF Gestion bought a new position in Fiserv during the second quarter worth about $2,981,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Up 2.1 %

Shares of NYSE:FI opened at $202.05 on Friday. Fiserv, Inc. has a 52-week low of $114.32 and a 52-week high of $204.50. The company has a market capitalization of $114.95 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. 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 company has a fifty day moving average of $183.87 and a 200-day moving average of $164.46.

Fiserv (NYSE:FI) last announced its earnings results 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. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $1.96 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock valued at $46,968,117 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Susquehanna increased their target price on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays lifted their target price on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Tigress Financial raised their price target on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $207.25.

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.