Sanders Capital LLC Buys New Position in Fiserv, Inc. (NYSE:FI)

Sanders Capital LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI) in the third quarter, HoldingsChannel reports. The fund purchased 4,255,737 shares of the business services provider’s stock, valued at approximately $764,543,000. Fiserv comprises about 1.1% of Sanders Capital LLC’s portfolio, making the stock its 25th largest holding.

Several other hedge funds also recently made changes to their positions in the business. Quent Capital LLC raised its holdings in Fiserv by 5.9% during the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after acquiring an additional 68 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Fiserv by 3.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,855 shares of the business services provider’s stock valued at $2,854,000 after buying an additional 513 shares in the last quarter. Tidal Investments LLC increased its holdings in Fiserv by 30.1% during the first quarter. Tidal Investments LLC now owns 36,199 shares of the business services provider’s stock worth $5,783,000 after buying an additional 8,377 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Fiserv in the first quarter valued at $218,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Fiserv in the 1st quarter valued at about $718,000. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FI shares. Tigress Financial raised their target price on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays lifted their target price on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. KeyCorp increased their price target on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada raised their target price on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $214.29.

Fiserv Stock Performance

FI opened at $221.74 on Tuesday. The firm has a market cap of $126.15 billion, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The business’s fifty day moving average is $196.70 and its 200-day moving average is $171.47. Fiserv, Inc. has a 52-week low of $125.42 and a 52-week high of $223.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

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

Insider Activity at Fiserv

In related news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the transaction, the director now directly owns 33,235 shares in the company, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $4,468,394.81. Following the completion of the transaction, 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. Insiders have sold 235,821 shares of company stock valued at $44,299,745 over the last three months. 0.75% of the stock is owned by insiders.

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.