Chevy Chase Trust Holdings LLC Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Chevy Chase Trust Holdings LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 308,971 shares of the business services provider’s stock after selling 10,789 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Fiserv worth $55,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Soros Capital Management LLC raised its position in Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after acquiring an additional 22,884 shares during the period. ORG Partners LLC raised its holdings in Fiserv by 3,016.0% in the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after purchasing an additional 3,197 shares during the period. Maxwell Wealth Strategies Inc. lifted its position in Fiserv by 23.6% during 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 purchasing an additional 2,869 shares in the last quarter. Park Place Capital Corp grew its holdings in Fiserv by 66.3% during 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 purchasing an additional 2,794 shares during the period. Finally, Radnor Capital Management LLC purchased a new stake in Fiserv in the third quarter worth about $1,543,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $218.46 on Tuesday. The firm has a fifty day simple moving average of $200.25 and a two-hundred day simple moving average of $173.36. Fiserv, Inc. has a 52 week low of $129.60 and a 52 week high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $124.28 billion, a P/E ratio of 42.01, a PEG ratio of 1.69 and a beta of 0.93.

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

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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 of the company’s stock, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FI has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group upped their price target on shares of Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Tigress Financial upped their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, BTIG Research assumed coverage on Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target on the stock. Four 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.29.

Fiserv Company 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.