Brooklyn Investment Group Acquires 300 Shares of Fiserv, Inc. (NYSE:FI)

Brooklyn Investment Group grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 7.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,507 shares of the business services provider’s stock after buying an additional 300 shares during the quarter. Brooklyn Investment Group’s holdings in Fiserv were worth $810,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FI. FMR LLC lifted its stake in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares during the period. Maj Invest Holding A S purchased a new stake in shares of Fiserv in the 3rd quarter worth about $172,993,000. Manning & Napier Advisors LLC bought a new position in shares of Fiserv in the 2nd quarter worth about $105,031,000. Mizuho Securities USA LLC lifted its holdings in shares of Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Fiserv by 1,642.5% during the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after buying an additional 471,531 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction on Friday, September 20th. The shares were 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 $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FI has been the topic of several analyst reports. KeyCorp upped their target price on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. BTIG Research assumed coverage on Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price for the company. Barclays increased their price objective on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, UBS Group raised their price target on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment 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, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $214.29.

Fiserv Stock Performance

Shares of Fiserv stock opened at $221.99 on Tuesday. The firm has a market capitalization of $126.29 billion, a P/E ratio of 42.63, a PEG ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $125.42 and a 52 week high of $223.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $196.70 and a 200 day moving average price of $171.47.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts expect 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.