Synovus Financial Corp Raises Position in Fiserv, Inc. (NYSE:FI)

Synovus Financial Corp grew its holdings in Fiserv, Inc. (NYSE:FI) by 67.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,567 shares of the business services provider’s stock after acquiring an additional 44,519 shares during the period. Synovus Financial Corp’s holdings in Fiserv were worth $19,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Fiserv by 5.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 28,590 shares of the business services provider’s stock valued at $4,261,000 after buying an additional 1,487 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Fiserv by 6.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 217,132 shares of the business services provider’s stock valued at $32,361,000 after purchasing an additional 12,285 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Fiserv during the 2nd quarter worth $44,000. Miracle Mile Advisors LLC grew its stake in shares of Fiserv by 4.8% during the second quarter. Miracle Mile Advisors LLC now owns 7,918 shares of the business services provider’s stock worth $1,180,000 after purchasing an additional 365 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Fiserv by 91.3% in the second quarter. Blue Trust Inc. now owns 1,848 shares of the business services provider’s stock valued at $295,000 after buying an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.4 %

FI stock opened at $204.85 on Friday. Fiserv, Inc. has a 52 week low of $131.41 and a 52 week 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. The company has a market cap of $116.54 billion, a P/E ratio of 39.39, a P/E/G ratio of 1.56 and a beta of 0.93. The company’s 50-day moving average price is $205.41 and its 200 day moving average price is $176.59.

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

Analyst Ratings Changes

A number of research firms have recently commented on FI. Citigroup increased their price objective on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group upped their target price on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Stephens raised their price target on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Susquehanna boosted their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $217.50.

Insider Activity

In other Fiserv news, 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 transaction of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock worth $44,299,745 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

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.