Torray Investment Partners LLC Reduces Stake in Fiserv, Inc. (NYSE:FI)

Torray Investment Partners LLC trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,341 shares of the business services provider’s stock after selling 110 shares during the quarter. Fiserv accounts for 3.4% of Torray Investment Partners LLC’s portfolio, making the stock its 3rd largest holding. Torray Investment Partners LLC’s holdings in Fiserv were worth $22,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Wellington Shields & Co. LLC acquired a new position in Fiserv in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new position in Fiserv in the fourth quarter worth $27,000. RE Dickinson Investment Advisors LLC acquired a new stake in Fiserv during the fourth quarter worth $27,000. Private Wealth Management Group LLC acquired a new stake in Fiserv during the fourth quarter worth $30,000. Finally, Family Firm Inc. bought a new stake in Fiserv in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FI shares. TD Cowen lifted their target price on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets upped their price objective on Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, KeyCorp lifted their price objective on Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.32.

Fiserv Trading Down 1.4 %

Shares of NYSE:FI traded down $2.49 during trading on Friday, hitting $170.02. 2,443,937 shares of the company’s stock were exchanged, compared to its average volume of 2,472,752. The firm has a 50-day moving average price of $161.29 and a two-hundred day moving average price of $154.99. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $175.47. The firm has a market cap of $99.48 billion, a P/E ratio of 31.79, a PEG ratio of 1.41 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In related news, EVP John Gibbons sold 18,890 shares of the 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 directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $25,350,427.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,690 shares of company stock valued at $14,833,215. 0.75% of the stock is currently owned by company insiders.

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.