Cascade Investment Group Inc. Has $564,000 Stock Position in Fiserv, Inc. (NYSE:FI)

Cascade Investment Group Inc. decreased its stake in Fiserv, Inc. (NYSE:FI) by 19.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,783 shares of the business services provider’s stock after selling 890 shares during the period. Cascade Investment Group Inc.’s holdings in Fiserv were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Price T Rowe Associates Inc. MD boosted its stake in Fiserv by 0.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after buying an additional 417,459 shares in the last quarter. Capital World Investors boosted its stake in Fiserv by 7.4% during the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after buying an additional 1,303,078 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Fiserv during the fourth quarter worth $960,592,000. Veritas Asset Management LLP acquired a new stake in shares of Fiserv in the 4th quarter valued at $927,298,000. Finally, Parnassus Investments LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at $900,674,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 1.0 %

NYSE:FI traded up $1.55 on Wednesday, hitting $164.01. 1,447,594 shares of the stock were exchanged, compared to its average volume of 2,512,592. The stock has a market capitalization of $95.96 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.31 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $165.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50-day moving average price is $153.80 and its 200 day moving average price is $151.87.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. On average, equities research analysts forecast that Fiserv, Inc. will post 8.73 earnings per share for the current year.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,800 shares of company stock worth $7,696,448. 0.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fiserv from $169.00 to $176.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. TD Cowen boosted their target price on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

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.