Exchange Traded Concepts LLC Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Exchange Traded Concepts LLC cut its stake in Fiserv, Inc. (NYSE:FI) by 11.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,772 shares of the business services provider’s stock after selling 1,214 shares during the period. Exchange Traded Concepts LLC’s holdings in Fiserv were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Atwood & Palmer Inc. grew its position in Fiserv by 6.6% in the third quarter. Atwood & Palmer Inc. now owns 1,066 shares of the business services provider’s stock worth $192,000 after acquiring an additional 66 shares during the period. Cooper Financial Group grew its position in Fiserv by 3.1% in the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after acquiring an additional 67 shares during the period. Quent Capital LLC grew its position in Fiserv by 5.9% in the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after acquiring an additional 68 shares during the period. Fielder Capital Group LLC grew its position in Fiserv by 3.3% in the second quarter. Fielder Capital Group LLC now owns 2,130 shares of the business services provider’s stock worth $317,000 after acquiring an additional 68 shares during the period. Finally, Andina Capital Management LLC grew its position in Fiserv by 3.1% in the second quarter. Andina Capital Management LLC now owns 2,342 shares of the business services provider’s stock worth $349,000 after acquiring an additional 70 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,890 shares of company stock valued at $32,855,417 over the last quarter. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $183.00 price target on shares of Fiserv in a research report on Wednesday, October 2nd. B. Riley raised their price target on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays raised their price target on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. 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. Finally, BTIG Research initiated coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.64.

Fiserv Stock Performance

Shares of FI stock opened at $194.02 on Wednesday. The stock’s 50-day moving average is $174.80 and its two-hundred day moving average is $160.39. The firm has a market cap of $113.52 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 1.44 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $195.83. 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 issued 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. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 earnings per share. Analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

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.