Summit Trail Advisors LLC Acquires 95 Shares of Fiserv, Inc. (NYSE:FI)

Summit Trail Advisors LLC increased its holdings in Fiserv, Inc. (NYSE:FI) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 12,538 shares of the business services provider’s stock after acquiring an additional 95 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fiserv were worth $2,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Maj Invest Holding A S purchased a new stake in Fiserv during the 3rd quarter valued at $172,993,000. Manning & Napier Advisors LLC acquired a new stake in shares of Fiserv in the second quarter worth approximately $105,031,000. Mizuho Securities USA LLC boosted its holdings in shares of Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Fiserv by 1,642.5% in the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after purchasing an additional 471,531 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Fiserv during the first quarter worth $52,503,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

Shares of Fiserv stock opened at $221.56 on Monday. Fiserv, Inc. has a 52 week low of $125.42 and a 52 week high of $222.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $195.77 and its 200-day simple moving average is $171.00. The company has a market capitalization of $126.05 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 1.69 and a beta of 0.92.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. Fiserv’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. As a group, analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,821 shares of company stock worth $44,299,745. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on FI. The Goldman Sachs Group raised their price target on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group raised their price target on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stephens boosted their target price on Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Tigress Financial raised their price objective on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

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.