CCM Investment Advisers LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

CCM Investment Advisers LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,294 shares of the business services provider’s stock after selling 9,008 shares during the period. Fiserv accounts for approximately 1.8% of CCM Investment Advisers LLC’s portfolio, making the stock its 20th largest holding. CCM Investment Advisers LLC’s holdings in Fiserv were worth $16,494,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Clean Yield Group grew its position in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Kennebec Savings Bank acquired a new position in Fiserv in the third quarter valued at $40,000. Northwest Investment Counselors LLC purchased a new stake in shares of Fiserv in the third quarter valued at about $44,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Fiserv by 904.0% during the third quarter. Wolff Wiese Magana LLC now owns 251 shares of the business services provider’s stock worth $45,000 after buying an additional 226 shares during the period. 90.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Heidi Miller sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. The trade was a 47.44 % decrease in their position. 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 firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on FI shares. The Goldman Sachs Group upped their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on shares of Fiserv from $225.00 to $238.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Tigress Financial increased their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. KeyCorp boosted their price objective on Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen increased their price target on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.88.

Fiserv Trading Down 2.7 %

Shares of Fiserv stock traded down $5.47 during trading on Friday, reaching $199.76. 1,156,594 shares of the company were exchanged, compared to its average volume of 1,940,385. The business has a 50-day moving average price of $209.68 and a 200-day moving average price of $184.46. The firm has a market capitalization of $113.65 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 1.56 and a beta of 0.94. 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 twelve month low of $135.13 and a twelve month high of $223.23.

Fiserv (NYSE:FI) last announced its quarterly 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 business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company posted $1.96 EPS. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Fiserv 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.