Commonwealth Equity Services LLC Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Commonwealth Equity Services LLC decreased its holdings in Fiserv, Inc. (NYSE:FI) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,011 shares of the business services provider’s stock after selling 936 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fiserv were worth $16,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Shields & Co. LLC acquired a new position in shares of Fiserv during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in Fiserv during the 4th quarter worth approximately $27,000. RE Dickinson Investment Advisors LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at $27,000. Private Wealth Management Group LLC purchased a new position in Fiserv in the fourth quarter valued at $30,000. Finally, Family Firm Inc. purchased a new stake in Fiserv during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $173.91 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $159.93 and a 200-day simple moving average of $154.58. The company has a market cap of $100.12 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $175.47.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. Fiserv’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FI. Keefe, Bruyette & Woods boosted their target price on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price objective on Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, B. Riley raised their price target on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.32.

Insider Activity

In related news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fiserv news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Insiders sold 93,690 shares of company stock worth $14,833,215 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Company 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.