Allspring Global Investments Holdings LLC Sells 120,880 Shares of Fiserv, Inc. (NYSE:FI)

Allspring Global Investments Holdings LLC decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,107 shares of the business services provider’s stock after selling 120,880 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Fiserv worth $68,825,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in shares of Fiserv by 67.2% during the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after acquiring an additional 1,306,901 shares during the period. Capital World Investors lifted its position in Fiserv by 7.4% during 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. Maj Invest Holding A S acquired a new position in Fiserv during the 3rd quarter valued at about $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv in the 2nd quarter valued at about $105,031,000. Finally, American Century Companies Inc. grew its position in shares of Fiserv by 1,642.5% during the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock worth $74,556,000 after buying an additional 471,531 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In related 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 sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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 directly owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,890 shares of company stock worth $32,855,417 in the last ninety days. Insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FI. Oppenheimer assumed coverage on shares of Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective on the stock. Wells Fargo & Company raised their price target on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $183.00 price objective on shares of Fiserv in a report on Wednesday, October 2nd. William Blair raised Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup upgraded Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Three equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.92.

Fiserv Stock Performance

Shares of NYSE FI opened at $197.15 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $177.77 and a 200 day moving average price of $161.51. The stock has a market capitalization of $115.35 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $198.86.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS 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 the consensus estimate of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. Analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal 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.