Harber Asset Management LLC Decreases Holdings in Fiserv, Inc. (NYSE:FI)

Harber Asset Management LLC reduced its position in Fiserv, Inc. (NYSE:FI) by 27.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,945 shares of the business services provider’s stock after selling 9,575 shares during the period. Fiserv comprises 1.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Harber Asset Management LLC’s holdings in Fiserv were worth $4,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FI. Hilltop Holdings Inc. boosted its stake in shares of Fiserv by 47.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,813 shares of the business services provider’s stock worth $865,000 after purchasing an additional 1,549 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Fiserv by 8,027.3% in the third quarter. Benjamin Edwards Inc. now owns 11,622 shares of the business services provider’s stock valued at $2,088,000 after buying an additional 11,479 shares during the period. Erste Asset Management GmbH purchased a new stake in Fiserv during the 3rd quarter worth $58,507,000. Timber Creek Capital Management LLC raised its position in Fiserv by 18.2% in the third quarter. Timber Creek Capital Management LLC now owns 28,294 shares of the business services provider’s stock valued at $5,083,000 after purchasing an additional 4,350 shares during the period. Finally, Cobblestone Capital Advisors LLC NY acquired a new position in shares of Fiserv during the third quarter worth about $235,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated 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 of the company’s stock, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,821 shares of company stock worth $44,299,745. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price on the stock. BMO Capital Markets lifted their target price on Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price target on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

Fiserv Trading Down 1.1 %

Fiserv stock opened at $218.46 on Tuesday. The firm has a market capitalization of $124.28 billion, a PE ratio of 42.01, a PEG ratio of 1.69 and a beta of 0.93. The business’s 50-day simple moving average is $200.25 and its 200-day simple moving average is $173.36. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv, Inc. has a 52 week low of $129.60 and a 52 week high of $223.23.

Fiserv (NYSE:FI) last posted its quarterly 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. Equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

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.