Principal Street Partners LLC Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Principal Street Partners LLC lowered its holdings in Fiserv, Inc. (NYSE:FI) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,159 shares of the business services provider’s stock after selling 456 shares during the period. Principal Street Partners LLC’s holdings in Fiserv were worth $732,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after buying an additional 64,332 shares during the period. Legal & General Group Plc lifted its holdings in Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after buying an additional 85,598 shares in the last quarter. Sanders Capital LLC purchased a new position in Fiserv in the 3rd quarter valued at about $764,543,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Fiserv by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after acquiring an additional 225,159 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,821 shares of company stock worth $44,299,745 over the last ninety days. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI traded down $0.02 during trading hours on Tuesday, reaching $221.74. 60,339 shares of the company’s stock traded hands, compared to its average volume of 2,477,919. Fiserv, Inc. has a twelve month low of $125.42 and a twelve month high of $223.22. The business’s fifty day simple moving average is $196.70 and its two-hundred day simple moving average is $171.47. 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 capitalization of $126.15 billion, a price-to-earnings 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 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion for 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 quarter last year, the company earned $1.96 EPS. Analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer started coverage on shares of Fiserv in a research report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price target for the company. Robert W. Baird upped their price target on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company upped their target price on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.29.

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.