Investment Management Corp of Ontario Buys 6,300 Shares of Fiserv, Inc. (NYSE:FI)

Investment Management Corp of Ontario boosted its stake in Fiserv, Inc. (NYSE:FI) by 32.9% in the third quarter, HoldingsChannel reports. The firm owned 25,443 shares of the business services provider’s stock after buying an additional 6,300 shares during the period. Investment Management Corp of Ontario’s holdings in Fiserv were worth $4,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Soros Capital Management LLC lifted its stake in shares of Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after buying an additional 22,884 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Fiserv by 3,016.0% in the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after acquiring an additional 3,197 shares during the last quarter. Maxwell Wealth Strategies Inc. lifted its position in Fiserv by 23.6% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock valued at $2,696,000 after acquiring an additional 2,869 shares in the last quarter. Park Place Capital Corp boosted its stake in Fiserv by 66.3% during the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after purchasing an additional 2,794 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new stake in Fiserv during the 3rd quarter worth approximately $1,543,000. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FI shares. JPMorgan Chase & Co. raised their target price on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Oppenheimer started coverage on Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective on the stock. Susquehanna lifted their price objective on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Morgan Stanley increased their target price on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price target on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.25.

Fiserv Price Performance

Shares of NYSE:FI opened at $215.38 on Wednesday. The firm has a market capitalization of $122.53 billion, a PE ratio of 41.42, a P/E/G ratio of 1.67 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $201.79 and a two-hundred day moving average price of $174.26. Fiserv, Inc. has a twelve month low of $129.60 and a twelve month high of $223.23.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $1.96 EPS. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In related news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by corporate 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.