Sequoia Financial Advisors LLC Purchases 48,270 Shares of Fiserv, Inc. (NYSE:FI)

Sequoia Financial Advisors LLC lifted its stake in Fiserv, Inc. (NYSE:FI) by 354.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 61,886 shares of the business services provider’s stock after buying an additional 48,270 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fiserv were worth $11,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Wellington Management Group LLP acquired a new stake in shares of Fiserv in the fourth quarter worth $3,292,000. Fisher Asset Management LLC acquired a new stake in shares of Fiserv in the fourth quarter worth $296,000. Dynamic Advisor Solutions LLC grew its stake in shares of Fiserv by 5.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 8,518 shares of the business services provider’s stock worth $1,361,000 after acquiring an additional 413 shares during the last quarter. RMR Wealth Builders acquired a new stake in shares of Fiserv in the first quarter worth $363,000. Finally, Brookstone Capital Management grew its stake in shares of Fiserv by 313.1% in the first quarter. Brookstone Capital Management now owns 26,760 shares of the business services provider’s stock worth $4,277,000 after acquiring an additional 20,282 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $199.72 on Wednesday. The stock has a market capitalization of $116.86 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.44 and a beta of 0.93. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $199.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $178.52 and a two-hundred day moving average price of $161.81.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. Equities analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insider Transactions at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,890 shares of company stock worth $32,855,417. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FI. Royal Bank of Canada reiterated an “outperform” rating and set a $183.00 price target on shares of Fiserv in a research note on Wednesday, October 2nd. BTIG Research began coverage on shares of Fiserv in a research note on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target on the stock. TD Cowen lifted their price target on shares of Fiserv from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Susquehanna lifted their price target on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.04.

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.