State Street Corp Has $4.30 Billion Holdings in Fiserv, Inc. (NYSE:FI)

State Street Corp lowered its stake in Fiserv, Inc. (NYSE:FI) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,940,187 shares of the business services provider’s stock after selling 224,267 shares during the period. State Street Corp owned approximately 4.21% of Fiserv worth $4,300,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. bought a new position in shares of Fiserv in the second quarter worth about $31,000. Clean Yield Group boosted its stake in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC raised its position in Fiserv by 42.5% in 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. Newbridge Financial Services Group Inc. raised its position in Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in Fiserv in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Doyle Simons sold 40,000 shares of the firm’s 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 sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This 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 corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stephens lifted their price objective on Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their price objective on Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. The Goldman Sachs Group lifted their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada lifted their price objective on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $215.25.

Fiserv Stock Performance

FI opened at $215.85 on Thursday. 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 business’s 50-day simple moving average is $202.57 and its 200 day simple moving average is $174.55. The firm has a market capitalization of $122.80 billion, a PE ratio of 41.51, a PEG ratio of 1.65 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $129.60 and a 52-week high of $223.23.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The company 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 quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. As a group, sell-side analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

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.