Massachusetts Financial Services Co. MA Increases Stake in Fiserv, Inc. (NYSE:FI)

Massachusetts Financial Services Co. MA grew its stake in Fiserv, Inc. (NYSE:FI) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,173,941 shares of the business services provider’s stock after purchasing an additional 64,332 shares during the period. Massachusetts Financial Services Co. MA owned about 1.23% of Fiserv worth $1,069,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv during the 1st quarter valued at about $25,000. ZRC Wealth Management LLC acquired a new stake in Fiserv in the first quarter valued at approximately $32,000. RE Dickinson Investment Advisors LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. GW&K Investment Management LLC acquired a new position in shares of Fiserv during the 4th quarter worth approximately $27,000. Finally, Family Firm Inc. purchased a new position in shares of Fiserv during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $174.89 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $102.33 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.38 and a beta of 0.93. The stock has a 50-day moving average of $163.69 and a two-hundred day moving average of $155.90. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $175.48.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $5.11 billion during 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 business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. As a group, analysts anticipate that Fiserv, Inc. will post 8.74 EPS for the current year.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv 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 transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,890 shares of company stock valued at $10,853,407. 0.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FI shares. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. B. Riley raised their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup upgraded Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods boosted their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.32.

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.