Mcrae Capital Management Inc. Has $21.90 Million Stock Holdings in Fiserv, Inc. $FI

Mcrae Capital Management Inc. lifted its position in Fiserv, Inc. (NYSE:FI) by 17.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,031 shares of the business services provider’s stock after buying an additional 18,500 shares during the period. Fiserv makes up 4.5% of Mcrae Capital Management Inc.’s holdings, making the stock its 6th largest position. Mcrae Capital Management Inc.’s holdings in Fiserv were worth $21,901,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Eukles Asset Management lifted its holdings in Fiserv by 1.8% in the 2nd quarter. Eukles Asset Management now owns 7,476 shares of the business services provider’s stock valued at $1,289,000 after acquiring an additional 130 shares during the last quarter. Middleton & Co. Inc. MA raised its holdings in shares of Fiserv by 1.0% in the 2nd quarter. Middleton & Co. Inc. MA now owns 46,984 shares of the business services provider’s stock worth $8,101,000 after purchasing an additional 450 shares in the last quarter. Twin Capital Management Inc. lifted its stake in Fiserv by 2.6% during the second quarter. Twin Capital Management Inc. now owns 12,015 shares of the business services provider’s stock valued at $2,072,000 after purchasing an additional 309 shares during the last quarter. Long Run Wealth Advisors LLC boosted its holdings in Fiserv by 11.0% during the second quarter. Long Run Wealth Advisors LLC now owns 3,319 shares of the business services provider’s stock worth $572,000 after buying an additional 330 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Fiserv by 960.9% in the second quarter. Golden State Wealth Management LLC now owns 244 shares of the business services provider’s stock valued at $42,000 after buying an additional 221 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FI. Argus restated a “hold” rating on shares of Fiserv in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fiserv in a research report on Wednesday, October 8th. Susquehanna cut their price objective on Fiserv from $240.00 to $220.00 and set a “positive” rating on the stock in a report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $91.00 target price on shares of Fiserv in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fiserv from $155.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fiserv currently has an average rating of “Hold” and a consensus price target of $127.28.

Insider Activity at Fiserv

In related news, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $65.18 per share, with a total value of $651,800.00. Following the completion of the purchase, the director owned 13,086 shares of the company’s stock, valued at $852,945.48. The trade was a 324.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Fiserv Trading Down 3.7%

NYSE:FI opened at $61.61 on Friday. The stock has a market cap of $33.14 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $61.33 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.09. The stock’s 50-day moving average is $120.28 and its two-hundred day moving average is $147.71.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The business had revenue of $4.32 billion during the quarter. As a group, equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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.