Bleakley Financial Group LLC Boosts Stock Position in Fiserv, Inc. (NYSE:FI)

Bleakley Financial Group LLC grew its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,928 shares of the business services provider’s stock after acquiring an additional 529 shares during the period. Bleakley Financial Group LLC’s holdings in Fiserv were worth $3,400,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Shields & Co. LLC bought a new stake in Fiserv in the first quarter valued at about $25,000. Family Firm Inc. acquired a new position in shares of Fiserv in the 2nd quarter worth approximately $31,000. Clean Yield Group raised its position in shares of Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. ZRC Wealth Management LLC bought a new position in Fiserv during the first quarter worth $32,000. Finally, Cedar Mountain Advisors LLC boosted its holdings in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FI. B. Riley raised their price target on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen lifted their target price on Fiserv from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Susquehanna raised their price target on Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday. Finally, Citigroup upgraded Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. Three 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.92.

Fiserv Price Performance

NYSE:FI opened at $197.30 on Friday. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $198.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a market cap of $115.44 billion, a P/E ratio of 36.88, a PEG ratio of 1.44 and a beta of 0.93. The business’s 50-day moving average price is $177.05 and its 200 day moving average price is $161.16.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 EPS. As a group, sell-side analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on 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 $4,764,211.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv 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 completion of the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,890 shares of company stock worth $32,855,417. Insiders own 0.75% of the company’s stock.

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.