Harvey Capital Management Inc. Has $2.10 Million Position in Fiserv, Inc. (NYSE:FI)

Harvey Capital Management Inc. cut its position in shares of Fiserv, Inc. (NYSE:FI) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,670 shares of the business services provider’s stock after selling 100 shares during the period. Harvey Capital Management Inc.’s holdings in Fiserv were worth $2,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Shields & Co. LLC acquired a new position in Fiserv in the 1st quarter valued at about $25,000. Family Firm Inc. acquired a new position in Fiserv in the 2nd quarter valued at $31,000. Clean Yield Group increased its position in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after buying an additional 138 shares during the period. Cedar Mountain Advisors LLC boosted its position in shares of Fiserv by 42.5% in the third 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 period. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FI. The Goldman Sachs Group boosted their price objective on shares of Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price objective on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their target price on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, TD Cowen boosted their price target on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.25.

Fiserv Trading Up 2.1 %

Shares of NYSE FI traded up $4.15 during trading on Friday, reaching $202.05. The company had a trading volume of 4,239,704 shares, compared to its average volume of 2,634,889. The stock has a market cap of $114.95 billion, a P/E ratio of 38.86, a PEG ratio of 1.51 and a beta of 0.92. The company’s fifty day moving average price is $183.87 and its 200-day moving average price is $164.46. 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 12 month low of $114.32 and a 12 month high of $204.50.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating 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 company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Buying and Selling

In other Fiserv news, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock valued at $46,968,117 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Fiserv Company 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.