Fiserv, Inc. (NYSE:FI) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 10.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,204,653 shares of the business services provider’s stock after selling 595,423 shares during the quarter. Fiserv makes up 2.0% of Parnassus Investments LLC’s holdings, making the stock its 20th biggest holding. Parnassus Investments LLC’s holdings in Fiserv were worth $935,016,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC raised its position in shares of Fiserv by 3,016.0% in the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after buying an additional 3,197 shares during the last quarter. Maxwell Wealth Strategies Inc. raised its position in shares of Fiserv by 23.6% in the third quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after buying an additional 2,869 shares during the last quarter. Park Place Capital Corp raised its position in shares of Fiserv by 66.3% in the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 2,794 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Fiserv in the third quarter valued at about $1,543,000. Finally, Acadian Asset Management LLC raised its position in shares of Fiserv by 377.3% in the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after buying an additional 44,776 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Trading Up 0.9 %

NYSE FI opened at $212.77 on Tuesday. The firm has a 50 day simple moving average of $192.16 and a 200-day simple moving average of $169.12. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv, Inc. has a one year low of $121.86 and a one year high of $215.50. The firm has a market cap of $121.05 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 1.61 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.90 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Activity at Fiserv

In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This trade represents a 40.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,711 shares of company stock valued at $47,477,232 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FI has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley raised their price objective on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Susquehanna raised their price objective on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Finally, Oppenheimer started coverage on shares of Fiserv in a research report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.52.

Fiserv 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.