Cadence Bank Sells 84 Shares of Fiserv, Inc. (NYSE:FI)

Cadence Bank decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,141 shares of the business services provider’s stock after selling 84 shares during the period. Cadence Bank’s holdings in Fiserv were worth $4,517,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FI. Sanders Capital LLC bought a new position in shares of Fiserv in the third quarter valued at approximately $764,543,000. FMR LLC grew its stake in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the last quarter. Maj Invest Holding A S bought a new position in Fiserv in the 3rd quarter worth $172,993,000. Manning & Napier Advisors LLC acquired a new position in Fiserv during the 2nd quarter worth $105,031,000. Finally, Mizuho Securities USA LLC boosted its holdings in Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after acquiring an additional 558,774 shares during the period. 90.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of Fiserv 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 sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock worth $44,299,745 over the last three months. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

Shares of FI stock opened at $222.45 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $126.56 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 1.70 and a beta of 0.92. The firm’s 50 day moving average is $197.64 and its 200-day moving average is $171.95. Fiserv, Inc. has a 1 year low of $125.42 and a 1 year high of $223.23.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm 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 business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. Sell-side analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on FI shares. JPMorgan Chase & Co. increased their target price on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Compass Point started coverage on shares of Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. Citigroup lifted their target price on Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. BMO Capital Markets raised their price objective on Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Barclays boosted their price objective on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.