Fiserv, Inc. (NYSE:FI) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 20,322 shares of the business services provider’s stock after selling 700 shares during the period. Alpha Cubed Investments LLC’s holdings in Fiserv were worth $4,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in Fiserv in the 2nd quarter worth about $60,000. AE Wealth Management LLC increased its position in shares of Fiserv by 176.4% during the second quarter. AE Wealth Management LLC now owns 16,136 shares of the business services provider’s stock worth $2,405,000 after purchasing an additional 10,298 shares in the last quarter. Pacer Advisors Inc. raised its stake in Fiserv by 38.8% in the 2nd quarter. Pacer Advisors Inc. now owns 62,455 shares of the business services provider’s stock valued at $9,308,000 after purchasing an additional 17,462 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Fiserv by 2.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 191,892 shares of the business services provider’s stock valued at $28,600,000 after purchasing an additional 4,208 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Fiserv by 267.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,190 shares of the business services provider’s stock worth $2,264,000 after buying an additional 11,059 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Up 1.2 %

Shares of NYSE:FI opened at $208.67 on Tuesday. The company has a market cap of $118.71 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 1.37 and a beta of 0.94. Fiserv, Inc. has a fifty-two week low of $136.93 and a fifty-two week high of $223.23. The firm’s 50-day simple moving average is $209.33 and its 200-day simple moving average is $187.72. 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 (NYSE:FI) last posted its quarterly 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. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm earned $1.96 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Kenneth Best sold 20,821 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,821 shares of company stock worth $18,581,095. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Compass Point started coverage on shares of Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. Wells Fargo & Company upped their price objective on Fiserv from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays raised 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. Finally, BMO Capital Markets raised their price objective on Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.