Portfolio Design Labs LLC Cuts Position in Fiserv, Inc. (NYSE:FI)

by · The Cerbat Gem

Portfolio Design Labs LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 7.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,923 shares of the business services provider’s stock after selling 1,339 shares during the quarter. Portfolio Design Labs LLC’s holdings in Fiserv were worth $2,861,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital World Investors raised its position in Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Fiserv during the third quarter valued at about $172,993,000. Manning & Napier Advisors LLC acquired a new stake in Fiserv during the 2nd quarter valued at approximately $105,031,000. Mizuho Securities USA LLC increased its stake in shares of Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after buying an additional 558,774 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Fiserv by 1,642.5% in the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after acquiring an additional 471,531 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the firm’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 completion of the sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This trade represents a 47.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction that occurred on 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 directly owns 38,771 shares in the company, valued at $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. Insiders have sold 235,821 shares of company stock worth $44,299,745 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Up 1.1 %

Shares of Fiserv stock opened at $215.15 on Wednesday. Fiserv, Inc. has a 1-year low of $121.86 and a 1-year high of $216.93. 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. The business’s fifty day moving average price is $193.02 and its two-hundred day moving average price is $169.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.96 earnings per share. As a group, research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Wall Street Analyst Weigh In

FI has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday. Citigroup boosted their price objective on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. Morgan Stanley lifted their target price on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group boosted their price target on Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a report 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Read Our Latest Stock Analysis on Fiserv

Fiserv Company Profile

(Free Report)

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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