Kennebec Savings Bank Takes Position in Fiserv, Inc. (NYSE:FI)

Kennebec Savings Bank acquired a new stake in Fiserv, Inc. (NYSE:FI) in the third quarter, Holdings Channel.com reports. The firm acquired 220 shares of the business services provider’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Wellington Shields & Co. LLC purchased a new stake in shares of Fiserv during the first quarter worth approximately $25,000. Family Firm Inc. purchased a new stake in shares of Fiserv during the second quarter worth approximately $31,000. Clean Yield Group increased its position in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays boosted their price target on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their price objective on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Citigroup boosted their price objective on Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Four equities 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 presently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP John Gibbons sold 18,890 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents 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 accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,890 shares of company stock valued at $46,968,117 in the last three months. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Up 2.0 %

Shares of Fiserv stock opened at $214.86 on Tuesday. Fiserv, Inc. has a twelve month low of $121.07 and a twelve month high of $215.45. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $122.24 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 1.61 and a beta of 0.92. The business’s 50 day simple moving average is $187.37 and its 200-day simple moving average is $166.57.

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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. Equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.