CCM Investment Advisers LLC Sells 9,008 Shares of Fiserv, Inc. (NYSE:FI)

CCM Investment Advisers LLC trimmed its stake in shares of Fiserv, Inc. (NYSE:FI) by 10.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 80,294 shares of the business services provider’s stock after selling 9,008 shares during the quarter. Fiserv comprises approximately 1.8% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 20th biggest position. CCM Investment Advisers LLC’s holdings in Fiserv were worth $16,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Soros Capital Management LLC increased its position in Fiserv by 71.7% in the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after acquiring an additional 22,884 shares during the period. Chiron Investment Management LLC acquired a new position in Fiserv during the 3rd quarter worth about $4,709,000. Maxwell Wealth Strategies Inc. grew its position in shares of Fiserv by 23.6% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after buying an additional 2,869 shares during the last quarter. M&T Bank Corp raised its position in shares of Fiserv by 12.0% during the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock worth $25,234,000 after acquiring an additional 15,103 shares during the last quarter. Finally, Park Place Capital Corp raised its stake in Fiserv by 66.3% during the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 2,794 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 2.7 %

Shares of Fiserv stock traded down $5.47 during trading on Friday, hitting $199.76. The stock had a trading volume of 1,156,594 shares, compared to its average volume of 1,940,385. The stock has a market cap of $113.65 billion, a PE ratio of 38.42, a PEG ratio of 1.56 and a beta of 0.94. Fiserv, Inc. has a 12 month low of $135.13 and a 12 month high of $223.23. The firm’s fifty day simple moving average is $209.68 and its 200-day simple moving average is $184.46. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.90 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side 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 stock in a transaction that occurred on 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 directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FI has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Compass Point initiated coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target for the company. UBS Group increased their price objective on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets increased their price target on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.88.

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.