Concurrent Investment Advisors LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Concurrent Investment Advisors LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 2.4% during the 2nd quarter, Holdings Channel reports. The firm owned 11,237 shares of the business services provider’s stock after selling 275 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Fiserv were worth $1,675,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cooper Financial Group lifted its position in Fiserv by 3.1% during the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock valued at $358,000 after buying an additional 67 shares in the last quarter. Quent Capital LLC raised its stake in shares of Fiserv by 5.9% in the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after acquiring an additional 68 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Fiserv by 3.1% during the 2nd quarter. Andina Capital Management LLC now owns 2,342 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 70 shares in the last quarter. Manchester Capital Management LLC boosted its position in Fiserv by 0.8% during the 1st quarter. Manchester Capital Management LLC now owns 9,782 shares of the business services provider’s stock worth $1,563,000 after purchasing an additional 73 shares during the period. Finally, BSW Wealth Partners increased its holdings in Fiserv by 2.8% in the 1st quarter. BSW Wealth Partners now owns 2,821 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 76 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The disclosure for this sale can be found here. Insiders sold a total of 93,690 shares of company stock worth $14,833,215 over the last ninety days. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $174.60 on Friday. The stock has a market capitalization of $100.52 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. The business’s fifty day moving average price is $158.94 and its 200 day moving average price is $154.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $174.81.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period last year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on FI. BTIG Research started coverage on Fiserv in a research note on Wednesday. They set a “buy” rating and a $200.00 price objective on the stock. Citigroup raised shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Mizuho upped their target price on shares of Fiserv from $156.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, William Blair raised shares of Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.32.

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.