Townsquare Capital LLC Purchases 2,219 Shares of Fiserv, Inc. (NYSE:FI)

Townsquare Capital LLC boosted its position in Fiserv, Inc. (NYSE:FI) by 5.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 40,399 shares of the business services provider’s stock after purchasing an additional 2,219 shares during the period. Townsquare Capital LLC’s holdings in Fiserv were worth $7,258,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FI. Wellington Shields & Co. LLC bought a new stake in Fiserv in the 1st quarter worth about $25,000. Family Firm Inc. bought a new stake in Fiserv in the 2nd quarter worth about $31,000. Clean Yield Group boosted its stake in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

NYSE FI opened at $220.63 on Thursday. Fiserv, Inc. has a 1 year low of $126.68 and a 1 year high of $223.23. 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 stock has a market capitalization of $125.52 billion, a PE ratio of 42.43, a P/E/G ratio of 1.70 and a beta of 0.92. The company’s 50 day simple moving average is $198.55 and its two-hundred day simple moving average is $172.29.

Fiserv (NYSE:FI) last posted its earnings results 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 business 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%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. Analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the 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 transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Kenneth Best sold 20,821 shares of the 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. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,821 shares of company stock valued at $44,299,745 in the last quarter. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FI. Stephens boosted their target price on shares of Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup boosted their target price on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. KeyCorp boosted their target price on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group boosted their target price on shares of Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their target price on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Four research 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’s stock. Based on data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average price target 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.