Massachusetts Financial Services Co. MA Has $1.24 Billion Position in Fiserv, Inc. (NYSE:FI)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,909,292 shares of the business services provider’s stock after selling 264,649 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Fiserv were worth $1,241,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FI. Maj Invest Holding A S bought a new position in Fiserv during the third quarter worth $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv during the 2nd quarter worth about $105,031,000. Mizuho Securities USA LLC raised its position in shares of Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after buying an additional 558,774 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 buying an additional 471,531 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after buying an additional 417,459 shares during the period. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FI shares. Tigress Financial boosted their price target on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. William Blair upgraded Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. TD Cowen raised their target price on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, B. Riley increased 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. Four 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

Fiserv Stock Up 1.3 %

NYSE:FI opened at $217.94 on Thursday. The company has a market cap of $123.99 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 1.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average price is $193.96 and its two-hundred day moving average price is $169.92. Fiserv, Inc. has a 52-week low of $124.11 and a 52-week high of $218.18.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 earnings per share. On average, analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’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 transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on 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 sale, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by insiders.

Fiserv Company 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.