Brown Capital Management LLC Sells 53 Shares of Fiserv, Inc. (NYSE:FI)

Brown Capital Management LLC reduced its position in Fiserv, Inc. (NYSE:FI) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,989 shares of the business services provider’s stock after selling 53 shares during the period. Brown Capital Management LLC’s holdings in Fiserv were worth $1,256,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Shields & Co. LLC bought a new position in shares of Fiserv during the first quarter valued at $25,000. Clean Yield Group lifted its stake in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in shares of Fiserv by 42.5% during 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 during the last quarter. Family Firm Inc. purchased a new stake in shares of Fiserv during the 2nd quarter valued at about $31,000. Finally, Kennebec Savings Bank bought a new stake in shares of Fiserv in the third quarter worth approximately $40,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Stephens raised their price target on Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Compass Point assumed coverage on Fiserv in a report on Wednesday. They issued a “buy” rating and a $278.00 price objective for the company. Oppenheimer began coverage on Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. Finally, Mizuho boosted their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $214.29.

Fiserv Stock Performance

NYSE FI opened at $217.94 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a twelve month low of $124.11 and a twelve month high of $218.18. The business has a 50-day moving average price of $193.96 and a 200-day moving average price of $169.92. The firm has a market cap of $123.99 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92.

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

Insider Activity at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of Fiserv 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 of the company’s stock, valued at $525,916,949.08. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,821 shares of company stock valued at $44,299,745. Corporate insiders own 0.75% of the company’s stock.

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.