Fiserv, Inc. (NYSE:FI) Stock Holdings Increased by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in shares of Fiserv, Inc. (NYSE:FI) by 1,260.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,708 shares of the business services provider’s stock after buying an additional 61,806 shares during the period. iA Global Asset Management Inc.’s holdings in Fiserv were worth $11,984,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FI. EP Wealth Advisors LLC raised its position in shares of Fiserv by 0.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 12,373 shares of the business services provider’s stock valued at $2,223,000 after acquiring an additional 97 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares during the period. Wellington Management Group LLP lifted its position in shares of Fiserv by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 50,386 shares of the business services provider’s stock worth $9,052,000 after buying an additional 22,410 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Fiserv during the 3rd quarter valued at about $1,512,000. Finally, Weiss Asset Management LP raised its stake in Fiserv by 222.7% during the third quarter. Weiss Asset Management LP now owns 43,508 shares of the business services provider’s stock worth $7,816,000 after acquiring an additional 30,024 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 1.6 %

NYSE:FI opened at $207.26 on Friday. The stock has a fifty day simple moving average of $203.11 and a 200 day simple moving average of $174.76. The firm has a market capitalization of $117.91 billion, a price-to-earnings ratio of 39.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. Fiserv, Inc. has a 1-year low of $130.27 and a 1-year high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the business’s 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 of the company’s stock, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock valued at $44,299,745 in the last three months. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Tigress Financial upped their price objective on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their target price on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer began coverage on shares of Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective on the stock. Finally, Compass Point started coverage on shares of Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price for the company. 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.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $215.25.

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.