Janney Montgomery Scott LLC Sells 8,770 Shares of Fiserv, Inc. (NYSE:FI)

Janney Montgomery Scott LLC reduced its position in Fiserv, Inc. (NYSE:FI) by 12.7% during the third quarter, Holdings Channel reports. The institutional investor owned 60,091 shares of the business services provider’s stock after selling 8,770 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fiserv were worth $10,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC increased its position in Fiserv by 5.9% during the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after buying an additional 68 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Fiserv during the first quarter valued at about $493,000. FDx Advisors Inc. raised its position in shares of Fiserv by 5.0% in the 1st quarter. FDx Advisors Inc. now owns 2,554 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 122 shares during the last quarter. Advisory Services Network LLC boosted its stake in Fiserv by 7.3% in the 1st quarter. Advisory Services Network LLC now owns 27,157 shares of the business services provider’s stock worth $4,340,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Empirical Finance LLC grew its position in Fiserv by 3.4% during the 1st quarter. Empirical Finance LLC now owns 21,597 shares of the business services provider’s stock worth $3,452,000 after purchasing an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

FI opened at $211.20 on Thursday. The company has a market cap of $120.16 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 1.54 and a beta of 0.92. The firm’s fifty day simple moving average is $185.93 and its two-hundred day simple moving average is $165.66. 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 52-week low of $118.42 and a 52-week high of $211.98.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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 return on equity of 17.10% and a net margin of 15.22%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm posted $1.96 EPS. Fiserv’s revenue was up 7.0% compared to the same quarter last year. Equities analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fiserv news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares in the company, valued at $6,684,555.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction 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 transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock worth $46,968,117 over the last three months. Insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price objective on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Stephens raised their price objective on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. KeyCorp upped their target price on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price target on shares of Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

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.