Carmel Capital Management L.L.C. Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Carmel Capital Management L.L.C. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 25.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,610 shares of the business services provider’s stock after buying an additional 9,370 shares during the quarter. Fiserv comprises 3.6% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 12th biggest position. Carmel Capital Management L.L.C.’s holdings in Fiserv were worth $9,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of 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 buying an additional 1,427,664 shares in the last quarter. Legal & General Group Plc lifted its stake in Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after purchasing an additional 85,598 shares in the last quarter. Sanders Capital LLC bought a new position in Fiserv in the 3rd quarter valued at $764,543,000. Barclays PLC grew its position in shares of Fiserv by 3.0% during the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after purchasing an additional 48,413 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Fiserv by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after purchasing an additional 4,218 shares during the period. 90.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Fiserv

In related news, Director Heidi Miller sold 30,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. Mizuho lifted their price objective on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup lifted their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets raised their price objective on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Susquehanna increased their target price on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, October 18th. Three 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. Based on data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average price target of $224.00.

Fiserv Stock Performance

Shares of FI stock opened at $206.35 on Friday. Fiserv, Inc. has a 52 week low of $137.13 and a 52 week high of $223.23. 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 stock has a fifty day moving average of $209.15 and a 200 day moving average of $188.28. The firm has a market capitalization of $117.40 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.37 and a beta of 0.94.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. As a group, research analysts expect that Fiserv, Inc. will post 8.77 earnings per share for the current 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.