Verus Capital Partners LLC Sells 176 Shares of Fiserv, Inc. (NYSE:FI)

Verus Capital Partners LLC reduced its stake in Fiserv, Inc. (NYSE:FI) by 9.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,605 shares of the business services provider’s stock after selling 176 shares during the period. Verus Capital Partners LLC’s holdings in Fiserv were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meridian Management Co. raised its holdings in Fiserv by 8.5% in the third quarter. Meridian Management Co. now owns 33,111 shares of the business services provider’s stock worth $5,948,000 after purchasing an additional 2,590 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Fiserv by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after acquiring an additional 4,218 shares in the last quarter. Harbour Investments Inc. lifted its position in Fiserv by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,064 shares of the business services provider’s stock valued at $1,808,000 after acquiring an additional 75 shares during the period. Venturi Wealth Management LLC lifted its position in Fiserv by 1.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 80,587 shares of the business services provider’s stock valued at $14,477,000 after acquiring an additional 1,467 shares during the period. Finally, Jag Capital Management LLC boosted its stake in Fiserv by 1.9% during the third quarter. Jag Capital Management LLC now owns 24,924 shares of the business services provider’s stock worth $4,478,000 after acquiring an additional 462 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Oppenheimer started coverage on Fiserv in a research report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Tigress Financial boosted their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. KeyCorp raised their price target on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.25.

Fiserv Trading Down 0.4 %

Fiserv stock opened at $213.18 on Thursday. Fiserv, Inc. has a 52-week low of $121.86 and a 52-week high of $215.50. The company has a market cap of $121.28 billion, a P/E ratio of 41.00, a P/E/G ratio of 1.64 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $188.98 and a two-hundred day simple moving average of $167.41.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Transactions at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,890 shares of company stock worth $43,008,837 in the last three months. Corporate insiders own 0.75% of the company’s stock.

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.