Principal Street Partners LLC Reduces Position in Fiserv, Inc. (NYSE:FI)

Principal Street Partners LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,159 shares of the business services provider’s stock after selling 456 shares during the quarter. Principal Street Partners LLC’s holdings in Fiserv were worth $732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of 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 purchasing an additional 3,197 shares during the period. Maxwell Wealth Strategies Inc. boosted its position in shares of Fiserv by 23.6% during the third quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock worth $2,696,000 after buying an additional 2,869 shares during the period. Park Place Capital Corp grew its stake in shares of Fiserv by 66.3% in the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 2,794 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Fiserv in the third quarter valued at $1,543,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Fiserv by 9.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 145,725 shares of the business services provider’s stock valued at $26,179,000 after buying an additional 12,119 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other news, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the stock in a transaction dated 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 in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

Fiserv stock traded down $0.02 during midday trading on Tuesday, reaching $221.74. The company’s stock had a trading volume of 60,339 shares, compared to its average volume of 2,477,919. The firm has a market capitalization of $126.15 billion, a PE ratio of 42.63, a P/E/G ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a fifty-two week low of $125.42 and a fifty-two week high of $223.22. The stock’s 50 day simple moving average is $196.70 and its 200 day simple moving average is $171.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last announced its quarterly 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group increased their price objective on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Tigress Financial boosted their price objective on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Oppenheimer started coverage on shares of Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 target price on the stock. Finally, Susquehanna lifted their price target on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

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.