Fiserv, Inc. (NYSE:FI) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,725 shares of the business services provider’s stock after purchasing an additional 12,119 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fiserv were worth $26,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Shields & Co. LLC acquired a new stake in Fiserv during the 1st quarter worth $25,000. Clean Yield Group boosted 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 buying an additional 138 shares during the period. Cedar Mountain Advisors LLC grew its position in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Fiserv during the second quarter worth about $31,000. Finally, Kennebec Savings Bank purchased a new position in shares of Fiserv in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FI. TD Cowen lifted their price objective on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. B. Riley boosted their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their price target on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Oppenheimer assumed 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 investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

Insider Buying and Selling at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This represents a 34.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

NYSE FI opened at $217.55 on Friday. The firm’s 50 day simple moving average is $194.83 and its 200 day simple moving average is $170.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 1 year low of $125.05 and a 1 year high of $219.11. The firm has a market capitalization of $123.77 billion, a price-to-earnings ratio of 41.84, a P/E/G ratio of 1.64 and a beta of 0.92.

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

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.