BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Fiserv, Inc. (NYSE:FI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 394,830 shares of the business services provider’s stock after selling 33,353 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.07% of Fiserv worth $70,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FI. Hancock Whitney Corp bought a new stake in shares of Fiserv in the 1st quarter worth approximately $201,000. LRI Investments LLC purchased a new stake in shares of Fiserv in the 1st quarter worth about $48,000. Cetera Investment Advisers boosted its stake in shares of Fiserv by 163.7% during the 1st quarter. Cetera Investment Advisers now owns 99,035 shares of the business services provider’s stock valued at $15,828,000 after purchasing an additional 61,480 shares in the last quarter. Cetera Advisors LLC raised its stake in Fiserv by 48.9% in the first quarter. Cetera Advisors LLC now owns 16,765 shares of the business services provider’s stock worth $2,679,000 after buying an additional 5,508 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Fiserv by 21.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,690 shares of the business services provider’s stock worth $563,000 after buying an additional 648 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

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

Fiserv Stock Up 0.2 %

Shares of NYSE:FI opened at $220.96 on Friday. 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’s 50 day moving average is $200.25 and its 200 day moving average is $173.09. The stock has a market cap of $125.71 billion, a P/E ratio of 42.49, a price-to-earnings-growth ratio of 1.70 and a beta of 0.92. Fiserv, Inc. has a 52-week low of $128.43 and a 52-week high of $223.23.

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

Analyst Ratings Changes

FI has been the subject of several recent research reports. Compass Point initiated coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. BTIG Research began coverage on shares of Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Jefferies Financial Group boosted their price target on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.29.

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.