Bowie Capital Management LLC Purchases 23,420 Shares of Fiserv, Inc. (NYSE:FI)

Bowie Capital Management LLC increased its holdings in Fiserv, Inc. (NYSE:FI) by 7.9% during the 3rd quarter, Holdings Channel reports. The firm owned 319,616 shares of the business services provider’s stock after buying an additional 23,420 shares during the period. Fiserv makes up approximately 3.0% of Bowie Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Bowie Capital Management LLC’s holdings in Fiserv were worth $57,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FI. Wellington Shields & Co. LLC bought a new position in Fiserv in the first quarter worth about $25,000. Family Firm Inc. bought a new position in Fiserv in the 2nd quarter worth $31,000. Clean Yield Group lifted its position in 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 purchasing an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the business’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 completion of the transaction, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,821 shares of company stock valued at $44,299,745 in the last three months. Company insiders own 0.75% of the company’s stock.

Fiserv Trading Down 0.3 %

Shares of NYSE:FI traded down $0.76 during trading hours on Monday, hitting $220.80. 191,414 shares of the company’s stock traded hands, compared to its average volume of 2,470,553. The firm has a market capitalization of $125.62 billion, a P/E ratio of 42.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The business has a fifty day moving average price of $195.77 and a 200-day moving average price of $171.00. Fiserv, Inc. has a 1 year low of $125.42 and a 1 year high of $222.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. Equities analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

FI has been the subject of a number of recent research reports. Barclays boosted their price objective on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Tigress Financial increased their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup lifted their target price on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, Susquehanna lifted their target price on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.29.

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.