Fortem Financial Group LLC Purchases New Stake in Fiserv, Inc. (NYSE:FI)

Fortem Financial Group LLC acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 5,990 shares of the business services provider’s stock, valued at approximately $1,076,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clean Yield Group grew its stake in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after acquiring an additional 57 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Fiserv in the 2nd quarter valued at approximately $31,000. Kennebec Savings Bank acquired a new stake in shares of Fiserv during the 3rd quarter valued at approximately $40,000. Finally, Northwest Investment Counselors LLC bought a new position in Fiserv during the third quarter worth $44,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $201.57 on Wednesday. Fiserv, Inc. has a 12 month low of $131.41 and a 12 month high of $223.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day moving average price is $204.15 and its 200 day moving average price is $175.83. The stock has a market cap of $114.68 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 1.58 and a beta of 0.93.

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

Insiders Place Their Bets

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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. This represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FI shares. Morgan Stanley boosted their target price on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. KeyCorp increased their price objective on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Mizuho upped their target price on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup raised their price target on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Four equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.50.

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.