Mackenzie Financial Corp Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Mackenzie Financial Corp cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,150 shares of the business services provider’s stock after selling 20,382 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Fiserv worth $52,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Fiserv Price Performance

Shares of Fiserv stock opened at $178.41 on Friday. The stock’s 50-day simple moving average is $167.88 and its 200-day simple moving average is $157.49. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $179.53. The company has a market capitalization of $104.39 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.45 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the business’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 $525,916,949.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,350,427.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,890 shares of company stock valued at $36,572,057. 0.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FI has been the subject of a number of research analyst reports. B. Riley raised their target price on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price objective on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $154.00 to $175.00 in a research report on Monday, July 22nd. Finally, Robert W. Baird raised their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.88.

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.