Meeder Asset Management Inc. Decreases Holdings in Fiserv, Inc. (NYSE:FI)

Meeder Asset Management Inc. trimmed its stake in Fiserv, Inc. (NYSE:FI) by 85.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183 shares of the business services provider’s stock after selling 1,105 shares during the period. Meeder Asset Management Inc.’s holdings in Fiserv were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FI. Price T Rowe Associates Inc. MD lifted its position in Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after purchasing an additional 417,459 shares during the period. Massachusetts Financial Services Co. MA increased its position in Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after purchasing an additional 64,332 shares in the last quarter. Legal & General Group Plc raised its position in shares of Fiserv by 1.9% in the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after buying an additional 85,598 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fiserv by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after purchasing an additional 225,159 shares during the period. Finally, Blair William & Co. IL lifted its position in Fiserv by 2.5% during the second quarter. Blair William & Co. IL now owns 2,171,391 shares of the business services provider’s stock worth $323,624,000 after buying an additional 52,748 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FI shares. The Goldman Sachs Group boosted their price objective on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Stephens boosted their price objective on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley increased their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their price objective on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.29.

Fiserv Stock Down 0.2 %

NYSE FI opened at $217.55 on Friday. Fiserv, Inc. has a 12 month low of $125.05 and a 12 month high of $219.11. The company’s 50 day simple moving average is $194.83 and its 200 day simple moving average is $170.25. The company has a market capitalization of $123.77 billion, a P/E ratio of 41.84, a PEG ratio of 1.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

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. The company had revenue of $5.22 billion for 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%. During the same period in the previous year, the firm earned $1.96 earnings per share. Fiserv’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Frank Bisignano sold 145,000 shares of Fiserv 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 transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,821 shares of company stock worth $44,299,745. Company insiders own 0.75% of the company’s stock.

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.