Fiserv, Inc. (NYSE:FI) Shares Sold by Otter Creek Advisors LLC

Otter Creek Advisors LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,627 shares of the business services provider’s stock after selling 1,200 shares during the quarter. Fiserv comprises 3.4% of Otter Creek Advisors LLC’s portfolio, making the stock its 11th largest position. Otter Creek Advisors LLC’s holdings in Fiserv were worth $5,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv in the first quarter worth $25,000. Clean Yield Group increased its stake in shares of Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the period. Cedar Mountain Advisors LLC increased 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 during the period. Family Firm Inc. bought a new position in shares of Fiserv in the second quarter worth about $31,000. Finally, Kennebec Savings Bank bought a new position in Fiserv during the third quarter valued at about $40,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock valued at $44,299,745 in the last quarter. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FI shares. Robert W. Baird upped their price objective on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Compass Point initiated coverage on Fiserv in a report on Wednesday. They set a “buy” rating and a $278.00 target price for the company. Oppenheimer assumed coverage on shares of Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their price objective on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Price Performance

Shares of NYSE:FI opened at $217.55 on Friday. The company’s fifty day moving average price is $194.83 and its 200-day moving average price is $170.25. The firm has a market capitalization of $123.77 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 1.64 and a beta of 0.92. Fiserv, Inc. has a one year low of $125.05 and a one year high of $219.11. 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) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. On average, equities research analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

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.