Arvest Investments Inc. Sells 3,529 Shares of Fiserv, Inc. (NYSE:FI)

Arvest Investments Inc. lowered its stake in Fiserv, Inc. (NYSE:FI) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,342 shares of the business services provider’s stock after selling 3,529 shares during the period. Arvest Investments Inc.’s holdings in Fiserv were worth $2,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FI. Waypoint Capital Advisors LLC grew its holdings in shares of Fiserv by 1.7% during the third quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock valued at $560,000 after buying an additional 51 shares during the last quarter. Optas LLC lifted its position in Fiserv by 1.7% in the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock valued at $578,000 after acquiring an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC boosted 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. Covestor Ltd increased its holdings in shares of Fiserv by 7.6% in the 3rd quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock worth $150,000 after purchasing an additional 59 shares in the last quarter. Finally, West Bancorporation Inc. increased its holdings in shares of Fiserv by 3.8% in the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Doyle Simons sold 40,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,890 shares of company stock worth $46,968,117. Insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of FI traded up $1.83 during midday trading on Friday, hitting $210.70. 1,761,528 shares of the company traded hands, compared to its average volume of 2,811,641. The stock has a market cap of $119.87 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 1.61 and a beta of 0.92. The firm has a 50 day moving average of $187.37 and a 200-day moving average of $166.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv, Inc. has a 52 week low of $118.42 and a 52 week high of $212.84.

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 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 company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company earned $1.96 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FI shares. KeyCorp increased their price objective on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen raised their price target on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Tigress Financial boosted their price objective on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BMO Capital Markets raised their target price on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, BTIG Research began coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 target price for the company. Four research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.