Fortem Financial Group LLC lifted its stake in Fiserv, Inc. (NYSE:FI – Free Report) by 6.2% during the fourth quarter, Holdings Channel reports. The fund owned 6,364 shares of the business services provider’s stock after acquiring an additional 374 shares during the quarter. Fortem Financial Group LLC’s holdings in Fiserv were worth $1,307,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clean Yield Group lifted 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 buying an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares during the period. Kennebec Savings Bank acquired a new stake in Fiserv in the 3rd quarter worth $40,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Fiserv in the 3rd quarter worth $44,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Fiserv
In other Fiserv news, CAO Kenneth Best sold 20,821 shares of Fiserv 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 sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by company insiders.
Fiserv Trading Down 1.3 %
Fiserv (NYSE:FI – Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $4.90 billion. During the same quarter last year, the business posted $1.96 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho upped their target price on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.88.
Get Our Latest Research Report on Fiserv
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.
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