Townsquare Capital LLC Acquires 2,219 Shares of Fiserv, Inc. (NYSE:FI)

Townsquare Capital LLC lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,399 shares of the business services provider’s stock after purchasing an additional 2,219 shares during the quarter. Townsquare Capital LLC’s holdings in Fiserv were worth $7,258,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Shields & Co. LLC bought a new position in shares of Fiserv during the first quarter worth approximately $25,000. Family Firm Inc. bought a new position in shares of Fiserv during the second quarter worth approximately $31,000. Clean Yield Group increased its stake in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

FI stock opened at $220.63 on Thursday. The firm has a market cap of $125.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.70 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. Fiserv, Inc. has a 12-month low of $126.68 and a 12-month high of $223.23. The company’s fifty day simple moving average is $198.55 and its 200 day simple moving average is $172.29.

Fiserv (NYSE:FI) last released 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. The business 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%. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Mizuho lifted their price objective on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer assumed coverage on shares of Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective on the stock. TD Cowen lifted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $214.29.

Insider Activity

In other news, CAO Kenneth Best sold 20,821 shares of the company’s 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 transaction, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,821 shares of company stock worth $44,299,745. Company insiders own 0.75% of the company’s stock.

Fiserv 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.