Rehmann Capital Advisory Group Sells 461 Shares of Fiserv, Inc. (NYSE:FI)

Rehmann Capital Advisory Group lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,404 shares of the business services provider’s stock after selling 461 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Fiserv were worth $971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sanders Capital LLC purchased a new position in shares of Fiserv during the third quarter valued at approximately $764,543,000. FMR LLC boosted its holdings in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Maj Invest Holding A S bought a new stake in Fiserv in the 3rd quarter worth approximately $172,993,000. Kovitz Investment Group Partners LLC raised its stake in Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after buying an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Fiserv by 1,238.6% during the 3rd 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 period. 90.98% of the stock is owned by institutional investors.

Insider Transactions at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the business’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 sale, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 34.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 Trading Up 1.2 %

Shares of FI opened at $203.96 on Thursday. Fiserv, Inc. has a 1 year low of $131.41 and a 1 year high of $223.23. The company has a 50 day simple moving average of $204.55 and a two-hundred day simple moving average of $176.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $116.04 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 1.58 and a beta of 0.93.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on FI. Morgan Stanley increased their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price target on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research report on Monday. Compass Point initiated coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price for the company. Finally, StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.50.

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.