Argyle Capital Management Inc. Sells 1,965 Shares of Fiserv, Inc. (NYSE:FI)

Argyle Capital Management Inc. lowered its position in Fiserv, Inc. (NYSE:FI) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,523 shares of the business services provider’s stock after selling 1,965 shares during the quarter. Argyle Capital Management Inc.’s holdings in Fiserv were worth $2,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Fiserv by 67.2% during the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after acquiring an additional 1,306,901 shares in the last quarter. Capital World Investors raised its stake in shares of Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the period. Maj Invest Holding A S purchased a new stake in Fiserv during the 3rd quarter worth about $172,993,000. Manning & Napier Advisors LLC bought a new position in Fiserv in the 2nd quarter worth about $105,031,000. Finally, American Century Companies Inc. grew its holdings in Fiserv by 1,642.5% during the 2nd 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 in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 that occurred on 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 sale, the director now directly owns 76,180 shares in the company, valued at approximately $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. Insiders sold 227,890 shares of company stock valued at $40,934,217 in the last 90 days. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. William Blair raised shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Susquehanna lifted their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Mizuho boosted their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.25.

Fiserv Trading Up 0.5 %

NYSE:FI traded up $0.96 during midday trading on Tuesday, reaching $202.38. 324,494 shares of the stock traded hands, compared to its average volume of 2,469,706. The stock has a market capitalization of $116.51 billion, a P/E ratio of 38.63, a PEG ratio of 1.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. The company has a fifty day moving average of $181.35 and a 200 day moving average of $163.11. Fiserv, Inc. has a 12 month low of $111.53 and a 12 month high of $204.50.

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 the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, research analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Fiserv 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.