Bank of Montreal Can Buys 79,241 Shares of Fiserv, Inc. (NYSE:FI)

Bank of Montreal Can lifted its stake in shares of Fiserv, Inc. (NYSE:FI) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 749,711 shares of the business services provider’s stock after acquiring an additional 79,241 shares during the quarter. Bank of Montreal Can’s holdings in Fiserv were worth $133,733,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. ORG Partners LLC lifted its position in Fiserv by 3,016.0% during the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after acquiring an additional 3,197 shares during the last quarter. Maxwell Wealth Strategies Inc. lifted its position in shares of Fiserv by 23.6% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock worth $2,696,000 after purchasing an additional 2,869 shares during the last quarter. Park Place Capital Corp boosted its stake in Fiserv by 66.3% during the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after purchasing an additional 2,794 shares during the period. Radnor Capital Management LLC acquired a new stake in Fiserv in the 3rd quarter valued at approximately $1,543,000. Finally, PNC Financial Services Group Inc. grew its holdings in Fiserv by 9.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 145,725 shares of the business services provider’s stock valued at $26,179,000 after buying an additional 12,119 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director Doyle Simons sold 40,000 shares of the company’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 sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 34.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 corporate insiders.

Fiserv Price Performance

Shares of FI opened at $221.70 on Tuesday. The stock has a 50 day simple moving average of $196.70 and a 200 day simple moving average of $171.47. Fiserv, Inc. has a 52-week low of $125.42 and a 52-week high of $223.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $126.13 billion, a PE ratio of 42.63, a P/E/G ratio of 1.69 and a beta of 0.92.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FI. The Goldman Sachs Group increased their price objective on Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. TD Cowen upped their price objective on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Tigress Financial boosted their price target on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their price objective on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Four 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.29.

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.