AQR Capital Management LLC Sells 249,840 Shares of Fiserv, Inc. (NYSE:FI)

AQR Capital Management LLC lessened its position in Fiserv, Inc. (NYSE:FI) by 32.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 514,047 shares of the business services provider’s stock after selling 249,840 shares during the period. AQR Capital Management LLC’s holdings in Fiserv were worth $76,341,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cooper Financial Group raised its holdings in shares of Fiserv by 3.1% during the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC raised its stake in Fiserv by 5.9% during the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after buying an additional 68 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in shares of Fiserv by 3.3% during the 2nd quarter. Fielder Capital Group LLC now owns 2,130 shares of the business services provider’s stock valued at $317,000 after buying an additional 68 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Fiserv by 3.1% during the 2nd quarter. Andina Capital Management LLC now owns 2,342 shares of the business services provider’s stock valued at $349,000 after buying an additional 70 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in shares of Fiserv by 3.0% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,447 shares of the business services provider’s stock worth $365,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. Citigroup raised Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday. B. Riley boosted their target price on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. KeyCorp increased their price target on shares of Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.88.

Fiserv Price Performance

FI stock opened at $177.40 on Friday. The company has a market capitalization of $102.13 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. The company’s fifty day moving average price is $167.49 and its 200-day moving average price is $157.35. Fiserv, Inc. has a one year low of $109.11 and a one year high of $179.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06.

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

Insider Buying and Selling at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock worth $36,572,057 in the last quarter. 0.75% of the stock is 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.