BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Fiserv, Inc. (NYSE:FI) by 7.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 394,830 shares of the business services provider’s stock after selling 33,353 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Fiserv were worth $70,931,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Family Firm Inc. purchased a new position in shares of Fiserv in the 2nd quarter valued at approximately $31,000. Clean Yield Group increased its stake in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in shares of Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after buying an additional 127 shares during the period. Finally, Kennebec Savings Bank purchased a new stake in shares of Fiserv during the third quarter valued at $40,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 0.2 %

Shares of NYSE FI opened at $220.96 on Friday. Fiserv, Inc. has a 1 year low of $128.43 and a 1 year high of $223.23. The company has a market capitalization of $125.71 billion, a P/E ratio of 42.49, a P/E/G ratio of 1.70 and a beta of 0.92. The company has a 50 day simple moving average of $200.25 and a 200-day simple moving average of $173.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FI. BMO Capital Markets lifted their price target on Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp upped their target price on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Oppenheimer began coverage on shares of Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Insider Activity at Fiserv

In other news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, 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 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 business’s stock in a transaction 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 owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,821 shares of company stock worth $44,299,745. Company insiders own 0.75% of the company’s stock.

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.