Seven Eight Capital LP Makes New Investment in Fiserv, Inc. (NYSE:FI)

Seven Eight Capital LP purchased a new stake in Fiserv, Inc. (NYSE:FI) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 9,183 shares of the business services provider’s stock, valued at approximately $1,369,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FI. Wellington Shields & Co. LLC purchased a new stake in Fiserv in the 1st quarter worth approximately $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Fiserv in the first quarter worth $32,000. RE Dickinson Investment Advisors LLC bought a new stake in Fiserv during the fourth quarter valued at $27,000. GW&K Investment Management LLC purchased a new position in Fiserv during the fourth quarter worth about $27,000. Finally, Family Firm Inc. bought a new position in Fiserv in the 2nd quarter worth about $31,000. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,350,427.14. The disclosure for this sale can be found here. Insiders sold 66,890 shares of company stock worth $10,853,407 over the last three months. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on FI shares. TD Cowen boosted their price objective on Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. KeyCorp increased their target price on Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

Fiserv Price Performance

Shares of Fiserv stock opened at $178.79 on Friday. The business has a 50 day moving average of $165.74 and a 200 day moving average of $156.54. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $178.89. The company has a market cap of $104.61 billion, a PE ratio of 33.42, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 EPS. As a group, equities research analysts forecast 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.