Cortland Associates Inc. MO Sells 103,364 Shares of Fiserv, Inc. (NYSE:FI)

by · The Markets Daily

Cortland Associates Inc. MO trimmed its stake in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 22.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 355,776 shares of the business services provider’s stock after selling 103,364 shares during the period. Fiserv makes up about 7.8% of Cortland Associates Inc. MO’s investment portfolio, making the stock its biggest position. Cortland Associates Inc. MO owned approximately 0.06% of Fiserv worth $63,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after purchasing an additional 417,459 shares in the last quarter. Capital World Investors lifted its holdings in Fiserv by 7.4% during the 1st quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after buying an additional 64,332 shares during the period. Legal & General Group Plc grew its position in shares of Fiserv by 1.9% in the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after purchasing an additional 85,598 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Fiserv by 67.2% during the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after purchasing an additional 1,306,901 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price target on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets raised their target price on Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. BTIG Research began coverage on shares of Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, KeyCorp raised their target price on Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

View Our Latest Stock Analysis on FI

Fiserv Trading Up 2.1 %

FI stock opened at $202.05 on Monday. The firm has a market cap of $114.95 billion, a P/E ratio of 38.86, a PEG ratio of 1.51 and a beta of 0.92. The company’s 50-day simple moving average is $183.87 and its 200-day simple moving average is $164.58. 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.

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

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,890 shares of company stock valued at $46,968,117 over the last 90 days. 0.75% of the stock is owned by company insiders.

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.

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