Fiserv, Inc. (NYSE:FI) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 10.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,653 shares of the business services provider’s stock after selling 427 shares during the period. KMG Fiduciary Partners LLC’s holdings in Fiserv were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FI. Kimelman & Baird LLC purchased a new stake in shares of Fiserv in the second quarter worth about $60,000. Renaissance Technologies LLC purchased a new stake in Fiserv in the 2nd quarter worth approximately $25,266,000. Seven Eight Capital LP acquired a new stake in shares of Fiserv during the 2nd quarter worth approximately $1,369,000. XTX Topco Ltd purchased a new position in shares of Fiserv during the 2nd quarter valued at approximately $1,597,000. Finally, Intech Investment Management LLC lifted its stake in shares of Fiserv by 27.6% in the 2nd quarter. Intech Investment Management LLC now owns 54,399 shares of the business services provider’s stock valued at $8,108,000 after purchasing an additional 11,768 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

NYSE:FI opened at $208.67 on Friday. Fiserv, Inc. has a one year low of $136.93 and a one year high of $223.23. The stock has a market cap of $118.71 billion, a PE ratio of 40.13, a P/E/G ratio of 1.32 and a beta of 0.94. 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 stock has a 50 day moving average price of $209.49 and a 200 day moving average price of $186.34.

Fiserv (NYSE:FI) last issued 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 business had revenue of $5.22 billion during 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 period last year, the company earned $1.96 EPS. Equities research analysts expect that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FI has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on Fiserv from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen raised their price objective on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. KeyCorp boosted their price objective on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Insiders Place Their Bets

In other news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,821 shares of company stock valued at $18,581,095 over the last ninety days. 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.