Assetmark Inc. Has $7.44 Million Position in Fiserv, Inc. (NYSE:FI)

Assetmark Inc. raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 27.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,436 shares of the business services provider’s stock after acquiring an additional 8,923 shares during the quarter. Assetmark Inc.’s holdings in Fiserv were worth $7,444,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FI. Bessemer Group Inc. increased its holdings in Fiserv by 67.2% during 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 purchasing an additional 1,306,901 shares in the last quarter. Capital World Investors increased its stake in shares of Fiserv by 7.4% in the first 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 in the last quarter. Maj Invest Holding A S bought a new position in shares of Fiserv in the third quarter valued at about $172,993,000. Manning & Napier Advisors LLC acquired a new position in Fiserv during the 2nd quarter worth about $105,031,000. Finally, American Century Companies Inc. grew its holdings in 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 acquiring an additional 471,531 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FI shares. Mizuho upped their target price on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their price target on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. B. Riley lifted their price objective on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given 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 $207.25.

Fiserv Stock Up 2.0 %

NYSE:FI opened at $214.86 on Tuesday. The firm has a market capitalization of $122.24 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a twelve month low of $121.07 and a twelve month high of $215.45. The stock’s 50 day moving average price is $187.37 and its two-hundred day moving average price is $166.57.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, 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. In the last ninety days, insiders sold 257,890 shares of company stock worth $46,968,117. Insiders own 0.75% of the company’s stock.

Fiserv Company 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.