Fiserv, Inc. (NYSE:FI) Holdings Cut by Bridgewater Associates LP

Bridgewater Associates LP cut its stake in Fiserv, Inc. (NYSE:FI) by 23.4% during the third quarter, HoldingsChannel reports. The fund owned 539,762 shares of the business services provider’s stock after selling 165,215 shares during the quarter. Bridgewater Associates LP’s holdings in Fiserv were worth $96,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Soros Capital Management LLC raised its stake in shares of Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after purchasing an additional 22,884 shares in the last quarter. Townsquare Capital LLC increased its holdings in Fiserv by 5.8% in the third quarter. Townsquare Capital LLC now owns 40,399 shares of the business services provider’s stock worth $7,258,000 after buying an additional 2,219 shares during the last quarter. Thematics Asset Management raised its position in Fiserv by 9.8% during the third quarter. Thematics Asset Management now owns 142,000 shares of the business services provider’s stock valued at $25,510,000 after acquiring an additional 12,700 shares in the last quarter. Sanders Capital LLC acquired a new stake in Fiserv in the third quarter valued at approximately $764,543,000. Finally, Brooklyn Investment Group grew its position in Fiserv by 7.1% in the third quarter. Brooklyn Investment Group now owns 4,507 shares of the business services provider’s stock worth $810,000 after acquiring an additional 300 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.3 %

Shares of FI opened at $222.45 on Wednesday. The stock has a market cap of $126.56 billion, a PE ratio of 42.78, a PEG ratio of 1.70 and a beta of 0.92. The stock has a 50 day simple moving average of $197.64 and a 200-day simple moving average of $171.95. Fiserv, Inc. has a 1 year low of $125.42 and a 1 year high of $223.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the company posted $1.96 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FI. Jefferies Financial Group lifted their price objective on shares of Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their price target on Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. KeyCorp increased their price objective on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stephens boosted their target price on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Morgan Stanley increased their price target on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Insider Transactions at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,821 shares of company stock valued at $44,299,745. Corporate insiders own 0.75% of the company’s stock.

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.