Brown Capital Management LLC Has $1.26 Million Stake in Fiserv, Inc. (NYSE:FI)

Brown Capital Management LLC lowered its holdings in Fiserv, Inc. (NYSE:FI) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,989 shares of the business services provider’s stock after selling 53 shares during the quarter. Brown Capital Management LLC’s holdings in Fiserv were worth $1,256,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FI. Quent Capital LLC raised its stake in shares of Fiserv by 5.9% in the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after purchasing an additional 68 shares during the last quarter. CreativeOne Wealth LLC raised its position in Fiserv by 38.8% in the 1st quarter. CreativeOne Wealth LLC now owns 8,450 shares of the business services provider’s stock valued at $1,351,000 after buying an additional 2,360 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Fiserv by 7.5% during the 1st quarter. EP Wealth Advisors LLC now owns 12,041 shares of the business services provider’s stock valued at $1,924,000 after acquiring an additional 835 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Fiserv by 27.0% during the 1st quarter. Advisors Asset Management Inc. now owns 44,667 shares of the business services provider’s stock valued at $7,139,000 after acquiring an additional 9,489 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Fiserv during the 1st quarter worth $221,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value 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 34.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FI. Robert W. Baird upped their price objective on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Citigroup increased their price target on Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their price objective on Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. KeyCorp raised their target price on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, William Blair raised shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Stock Up 1.3 %

Shares of NYSE:FI opened at $217.94 on Thursday. The company has a market cap of $123.99 billion, a PE ratio of 41.91, a P/E/G ratio of 1.64 and a beta of 0.92. Fiserv, Inc. has a 1 year low of $124.11 and a 1 year high of $218.18. The stock’s 50-day moving average is $193.96 and its 200 day moving average is $169.92. 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 announced its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

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.