Chartwell Investment Partners LLC Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Chartwell Investment Partners LLC cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,320 shares of the business services provider’s stock after selling 715 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Fiserv were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Kennebec Savings Bank purchased a new stake in Fiserv during the 3rd quarter valued at about $40,000. Ashton Thomas Securities LLC raised its position in Fiserv by 8.7% during the 3rd quarter. Ashton Thomas Securities LLC now owns 27,259 shares of the business services provider’s stock valued at $4,897,000 after purchasing an additional 2,186 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new position in Fiserv during the 3rd quarter valued at approximately $216,000. Baker Avenue Asset Management LP raised its position in Fiserv by 12.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 3,661 shares of the business services provider’s stock valued at $658,000 after purchasing an additional 417 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Fiserv by 16.7% during the 3rd quarter. Sigma Planning Corp now owns 5,372 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 767 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FI has been the subject of a number of recent analyst reports. UBS Group upped their price target on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group increased their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Oppenheimer initiated coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price for the company. B. Riley increased their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the business’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 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 disclosure for this sale can be found here. Insiders have sold 257,890 shares of company stock worth $46,968,117 over the last ninety days. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $213.98 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. Fiserv, Inc. has a one year low of $121.07 and a one year high of $215.45. The firm has a market capitalization of $121.74 billion, a P/E ratio of 41.28, a PEG ratio of 1.61 and a beta of 0.92. The business has a fifty day moving average of $188.18 and a 200 day moving average of $167.00.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 8.77 EPS 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.