Howe & Rusling Inc. Raises Stock Position in Fiserv, Inc. (NYSE:FI)

Howe & Rusling Inc. boosted its stake in Fiserv, Inc. (NYSE:FI) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,113 shares of the business services provider’s stock after purchasing an additional 1,561 shares during the period. Howe & Rusling Inc.’s holdings in Fiserv were worth $8,105,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FI. West Family Investments Inc. increased its position in Fiserv by 10.5% during the third quarter. West Family Investments Inc. now owns 2,191 shares of the business services provider’s stock valued at $394,000 after acquiring an additional 209 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Fiserv by 9.1% during 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 purchasing an additional 12,119 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Fiserv in the 3rd quarter worth approximately $5,398,000. OneAscent Financial Services LLC bought a new position in Fiserv in the third quarter worth approximately $336,000. Finally, Capital City Trust Co. FL raised its holdings in Fiserv by 2.4% in the 3rd quarter. Capital City Trust Co. FL now owns 27,582 shares of the business services provider’s stock worth $4,955,000 after purchasing an additional 636 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Susquehanna lifted their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, October 18th. Robert W. Baird increased their price objective on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Stephens lifted their target price on shares of Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. BTIG Research assumed coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target for the company. Finally, UBS Group boosted their price objective on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

Insider Buying and Selling

In other news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was 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 represents a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock worth $44,299,745 in the last 90 days. 0.75% of the stock is owned by corporate insiders.

Fiserv Trading Up 1.1 %

FI opened at $215.15 on Wednesday. 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 stock’s fifty day moving average is $193.02 and its two-hundred day moving average is $169.59. The company has a market capitalization of $122.40 billion, a P/E ratio of 41.38, a PEG ratio of 1.61 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $121.86 and a 52 week high of $216.93.

Fiserv (NYSE:FI) last announced its quarterly 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 firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. Analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current 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.