Keudell Morrison Wealth Management Sells 187 Shares of Fiserv, Inc. (NYSE:FI)

Keudell Morrison Wealth Management cut its holdings in Fiserv, Inc. (NYSE:FI) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,931 shares of the business services provider’s stock after selling 187 shares during the period. Keudell Morrison Wealth Management’s holdings in Fiserv were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FI. Olstein Capital Management L.P. increased its stake in shares of Fiserv by 30.8% during the third quarter. Olstein Capital Management L.P. now owns 17,000 shares of the business services provider’s stock valued at $3,054,000 after purchasing an additional 4,000 shares in the last quarter. Advisor Resource Council bought a new position in Fiserv during the 3rd quarter valued at approximately $607,000. Graypoint LLC raised its stake in Fiserv by 1.8% during the third quarter. Graypoint LLC now owns 27,077 shares of the business services provider’s stock valued at $4,864,000 after buying an additional 478 shares during the last quarter. Two Point Capital Management Inc. boosted its holdings in Fiserv by 1.2% in the third quarter. Two Point Capital Management Inc. now owns 50,611 shares of the business services provider’s stock worth $9,092,000 after acquiring an additional 590 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Fiserv by 9.8% in the third quarter. Concurrent Investment Advisors LLC now owns 12,342 shares of the business services provider’s stock worth $2,217,000 after acquiring an additional 1,105 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

FI traded down $2.71 during midday trading on Thursday, reaching $208.49. The company had a trading volume of 210,569 shares, compared to its average volume of 2,480,299. The business has a 50-day moving average of $185.93 and a two-hundred day moving average of $165.66. 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 1 year low of $118.42 and a 1 year high of $211.98. The company has a market cap of $118.61 billion, a P/E ratio of 40.62, a P/E/G ratio of 1.54 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Morgan Stanley increased their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets upped their price objective on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. 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. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 163,699 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available 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 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 transaction of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 257,890 shares of company stock valued at $46,968,117. Company insiders own 0.75% of the company’s stock.

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.