HM Payson & Co. Reduces Holdings in Fiserv, Inc. (NYSE:FI)

HM Payson & Co. reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,076 shares of the business services provider’s stock after selling 2,851 shares during the quarter. HM Payson & Co.’s holdings in Fiserv were worth $7,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FI. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv during the 1st quarter worth about $25,000. Family Firm Inc. acquired a new stake in shares of Fiserv during the 2nd quarter worth about $31,000. Clean Yield Group boosted its stake in shares of Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of Fiserv during the 1st quarter worth about $32,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.5 %

FI stock traded up $0.90 during midday trading on Thursday, reaching $200.71. The stock had a trading volume of 66,722 shares, compared to its average volume of 2,467,040. Fiserv, Inc. has a twelve month low of $113.11 and a twelve month high of $204.50. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market cap of $114.19 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 1.53 and a beta of 0.93. The business has a fifty day simple moving average of $182.64 and a two-hundred day simple moving average of $163.72.

Fiserv (NYSE:FI) last issued 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. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts expect that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, the director now directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 completion of the sale, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank Bisignano sold 145,000 shares of the company’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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,890 shares of company stock worth $40,934,217. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer initiated coverage on shares of Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. B. Riley lifted their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.25.

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.