Mcrae Capital Management Inc. Sells 1,475 Shares of Fiserv, Inc. (NYSE:FI)

Mcrae Capital Management Inc. cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 129,104 shares of the business services provider’s stock after selling 1,475 shares during the quarter. Fiserv comprises about 4.5% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Mcrae Capital Management Inc.’s holdings in Fiserv were worth $23,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Wellington Shields & Co. LLC acquired a new stake in Fiserv in the 1st quarter valued at about $25,000. Family Firm Inc. acquired a new stake in Fiserv in the 2nd quarter valued at about $31,000. Clean Yield Group grew its stake in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in Fiserv in the 1st quarter valued at about $32,000. Finally, Cedar Mountain Advisors LLC grew its stake in Fiserv by 42.5% in the 3rd 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 last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FI shares. JPMorgan Chase & Co. increased their price objective on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer initiated coverage on shares of Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective on the stock. Barclays raised 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. Royal Bank of Canada raised their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup raised their price target on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $204.38.

Insider Activity at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. 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 is available at this hyperlink. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares in the company, valued at $15,386,074.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,890 shares of company stock worth $40,934,217. Company insiders own 0.75% of the company’s stock.

Fiserv Trading Down 1.9 %

NYSE FI opened at $199.52 on Friday. Fiserv, Inc. has a one year low of $111.53 and a one year high of $204.50. The company’s 50 day moving average price is $180.68 and its 200 day moving average price is $162.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a market capitalization of $114.87 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.53 and a beta of 0.93.

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 net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Fiserv’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

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.