Fiserv, Inc. (NYSE:FI) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp boosted its holdings in Fiserv, Inc. (NYSE:FI) by 67.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,567 shares of the business services provider’s stock after purchasing an additional 44,519 shares during the quarter. Synovus Financial Corp’s holdings in Fiserv were worth $19,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC lifted its position in Fiserv by 1.7% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock valued at $560,000 after purchasing an additional 51 shares during the last quarter. Optas LLC raised its position in shares of Fiserv by 1.7% during the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after buying an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Covestor Ltd increased its position in shares of Fiserv by 7.6% during the 3rd quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 59 shares during the period. Finally, West Bancorporation Inc. raised its stake in shares of Fiserv by 3.8% in the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after buying an additional 61 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

FI opened at $204.85 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $116.54 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. The stock has a 50-day moving average of $205.41 and a 200-day moving average of $176.59. Fiserv, Inc. has a 52-week low of $131.41 and a 52-week high of $223.23.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping 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 business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company earned $1.96 earnings per share. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FI. BTIG Research assumed coverage on shares of Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target on the stock. Oppenheimer began coverage on shares of Fiserv in a report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on Fiserv from $225.00 to $238.00 and gave the company an “outperform” rating in a research report on Monday. Robert W. Baird boosted their target price on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Compass Point started coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target for the company. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.50.

Insider Activity

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is owned by insiders.

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.