Gateway Investment Advisers LLC Sells 165 Shares of Fiserv, Inc. (NYSE:FI)

Gateway Investment Advisers LLC trimmed its position in Fiserv, Inc. (NYSE:FI) by 10.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,358 shares of the business services provider’s stock after selling 165 shares during the period. Gateway Investment Advisers LLC’s holdings in Fiserv were worth $244,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Fiserv by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after buying an additional 417,459 shares during the last quarter. Capital World Investors boosted its position in 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 buying an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Fiserv by 0.9% in the 2nd 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 buying an additional 64,332 shares during the last quarter. Legal & General Group Plc boosted its position in Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after buying an additional 85,598 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after buying an additional 1,306,901 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,890 shares of company stock worth $32,855,417 in the last quarter. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

FI opened at $190.35 on Monday. The business’s 50-day moving average price is $173.30 and its two-hundred day moving average price is $159.91. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $191.23. The company has a market capitalization of $111.37 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FI. William Blair upgraded Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Morgan Stanley upgraded Fiserv from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $154.00 to $175.00 in a research report on Monday, July 22nd. Robert W. Baird raised their price target on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, TD Cowen raised their price target on Fiserv from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $178.84.

Fiserv 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.