Sky Investment Group LLC Boosts Holdings in Fiserv, Inc. (NYSE:FI)

Sky Investment Group LLC increased its stake in Fiserv, Inc. (NYSE:FI) by 17.7% in the third quarter, HoldingsChannel reports. The fund owned 2,290 shares of the business services provider’s stock after purchasing an additional 345 shares during the period. Sky Investment Group LLC’s holdings in Fiserv were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Shields & Co. LLC bought a new position in Fiserv in the 1st quarter worth $25,000. Clean Yield Group increased its position in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares during the period. Cedar Mountain Advisors LLC raised its stake 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 buying an additional 57 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in Fiserv in the first quarter worth about $32,000. Finally, Family Firm Inc. bought a new stake in Fiserv during the 2nd quarter valued at approximately $31,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

FI traded down $0.61 during midday trading on Tuesday, hitting $196.56. 1,311,774 shares of the company traded hands, compared to its average volume of 2,463,477. The company’s 50-day moving average is $177.77 and its 200 day moving average is $161.51. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $198.86. The firm has a market capitalization of $115.01 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $1.81 earnings per share. On average, research analysts expect that Fiserv, Inc. will post 8.74 EPS for the current year.

Insider Buying and Selling

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,890 shares of company stock valued at $32,855,417 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FI shares. Royal Bank of Canada reissued an “outperform” rating and issued a $183.00 target price on shares of Fiserv in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of Fiserv from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Barclays increased their price target on shares of 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 boosted their price objective on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.83.

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.