M&R Capital Management Inc. Sells 640 Shares of Fiserv, Inc. (NYSE:FI)

M&R Capital Management Inc. decreased its stake in Fiserv, Inc. (NYSE:FI) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 53,608 shares of the business services provider’s stock after selling 640 shares during the quarter. Fiserv makes up about 2.1% of M&R Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. M&R Capital Management Inc.’s holdings in Fiserv were worth $9,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FI. Wellington Shields & Co. LLC bought a new position in shares of Fiserv during the first quarter valued at $25,000. RE Dickinson Investment Advisors LLC bought a new position in Fiserv during the fourth quarter worth $27,000. Family Firm Inc. bought a new position in Fiserv during the second quarter worth $31,000. ZRC Wealth Management LLC bought a new position in Fiserv during the first quarter worth $32,000. Finally, Quarry LP bought a new position in Fiserv during the fourth quarter worth $36,000. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $154.00 to $175.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. BTIG Research assumed coverage on shares of Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target for the company. Oppenheimer assumed coverage on shares of Fiserv in a report on Tuesday. They issued an “outperform” rating and a $203.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.64.

Insider Activity

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 shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now 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 SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now 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 SEC, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The disclosure for this sale can be found here. Insiders have sold a total of 211,890 shares of company stock valued at $36,572,057 over the last quarter. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $182.44 on Thursday. The firm has a market cap of $106.75 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $182.56. The firm’s 50-day simple moving average is $169.66 and its two-hundred day simple moving average is $158.39.

Fiserv (NYSE:FI) last announced 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 for 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 quarter in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current year.

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.