Harvey Capital Management Inc. Cuts Stock Holdings in Fiserv, Inc. (NYSE:FI)

by · The Cerbat Gem

Harvey Capital Management Inc. lowered its position in Fiserv, Inc. (NYSE:FI – Free Report) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,670 shares of the business services provider’s stock after selling 100 shares during the period. Harvey Capital Management Inc.’s holdings in Fiserv were worth $2,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waypoint Capital Advisors LLC raised its stake in shares of Fiserv by 1.7% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock worth $560,000 after purchasing an additional 51 shares during the period. Optas LLC raised its position in Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after acquiring an additional 54 shares during the period. Cedar Mountain Advisors LLC boosted its stake in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. West Bancorporation Inc. increased its stake in shares of Fiserv by 3.8% during the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after purchasing an additional 61 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its holdings in shares of Fiserv by 6.6% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,066 shares of the business services provider’s stock worth $192,000 after purchasing an additional 66 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heidi Miller sold 30,000 shares of the business’s 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 transaction, the director now owns 33,235 shares in the company, valued at $6,684,555.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 257,890 shares of company stock valued at $46,968,117. Insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI traded up $4.15 during mid-day trading on Friday, reaching $202.05. 4,239,704 shares of the company were exchanged, compared to its average volume of 2,634,889. The stock has a market capitalization of $114.95 billion, a PE ratio of 38.86, a PEG ratio of 1.51 and a beta of 0.92. 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 52 week low of $114.32 and a 52 week high of $204.50. The company’s 50 day moving average price is $183.87 and its 200 day moving average price is $164.46.

Fiserv (NYSE:FI – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) 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 company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on FI shares. Jefferies Financial Group raised their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their price objective on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer started coverage on shares of Fiserv in a report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective on the stock. TD Cowen lifted their target price on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.25.

Read Our Latest Stock Analysis on FI

Fiserv Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NYSE:FI – Free Report).