Sanders Capital LLC Invests $764.54 Million in Fiserv, Inc. (NYSE:FI)

Sanders Capital LLC bought a new stake in Fiserv, Inc. (NYSE:FI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,255,737 shares of the business services provider’s stock, valued at approximately $764,543,000. Fiserv accounts for about 1.1% of Sanders Capital LLC’s portfolio, making the stock its 25th biggest position. Sanders Capital LLC owned 0.75% of Fiserv at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FI. Wellington Shields & Co. LLC acquired a new position in shares of Fiserv in the 1st quarter worth approximately $25,000. Family Firm Inc. bought a new stake in Fiserv in the second quarter valued at $31,000. Clean Yield Group raised its stake in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after acquiring an additional 138 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of 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 acquiring an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FI. BMO Capital Markets increased their target price on shares of Fiserv from $222.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price target on Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Jefferies Financial Group boosted their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna raised 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 research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Stock Performance

FI stock opened at $221.74 on Tuesday. The business’s fifty day moving average is $196.70 and its 200-day moving average is $171.47. The company has a market cap of $126.15 billion, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. 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 twelve month low of $125.42 and a twelve month high of $223.22.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion during 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 company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 EPS. Equities research analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated 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 transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. The trade was a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred 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 directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The trade was 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 have sold 235,821 shares of company stock worth $44,299,745. Company insiders own 0.75% of the company’s stock.

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.