Northwestern Mutual Wealth Management Co. Sells 6,576 Shares of Fiserv, Inc. (NYSE:FI)

Northwestern Mutual Wealth Management Co. cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 271,532 shares of the business services provider’s stock after selling 6,576 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Fiserv were worth $40,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after buying an additional 417,459 shares during the period. Capital World Investors lifted its stake in shares of Fiserv by 7.4% in the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after purchasing an additional 64,332 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in Fiserv in the fourth quarter worth $927,298,000. Finally, Northern Trust Corp purchased a new stake in Fiserv in the fourth quarter worth $784,200,000. Institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their price objective on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their target price on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, BTIG Research assumed coverage on Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective for the company. Five equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.88.

Insider Activity

In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Guy Chiarello sold 24,000 shares of the firm’s 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 transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock valued at $36,572,057 in the last quarter. 0.75% of the stock is currently owned by insiders.

Fiserv Trading Up 0.6 %

NYSE:FI opened at $178.38 on Monday. The company has a market cap of $104.37 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. 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 company has a 50 day simple moving average of $168.33 and a two-hundred day simple moving average of $157.79. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $179.53.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. Fiserv’s revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current year.

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.