Short Interest in Fiserv, Inc. (NYSE:FI) Drops By 5.5%

Fiserv, Inc. (NYSE:FI) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 8,790,000 shares, a drop of 5.5% from the August 31st total of 9,300,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is currently 3.7 days.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the business’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 directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’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 owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The disclosure for this sale can be found here. Insiders have sold 211,890 shares of company stock valued at $36,572,057 over the last three months. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Fiserv

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Fiserv in the fourth quarter worth about $5,885,279,000. Capital World Investors acquired a new position in Fiserv in the 4th quarter worth approximately $2,329,623,000. Veritas Asset Management LLP purchased a new position in Fiserv during the 4th quarter worth approximately $927,298,000. Northern Trust Corp acquired a new stake in Fiserv during the 4th quarter valued at approximately $784,200,000. Finally, BlueSpruce Investments LP purchased a new stake in shares of Fiserv in the 4th quarter valued at $646,368,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research initiated coverage on shares of Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, KeyCorp increased their price target on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.88.

Fiserv Stock Up 0.7 %

Shares of FI stock traded up $1.27 during trading hours on Monday, reaching $179.65. 2,130,539 shares of the company’s stock were exchanged, compared to its average volume of 2,466,129. Fiserv has a 1 year low of $109.11 and a 1 year high of $179.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a market cap of $105.11 billion, a PE ratio of 33.27, a PEG ratio of 1.45 and a beta of 0.93. The stock’s fifty day moving average price is $168.33 and its two-hundred day moving average price is $157.79.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Fiserv’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts predict that Fiserv will post 8.74 EPS for the current year.

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.