Fiserv, Inc. (NYSE:FI – Get Free Report) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,240,000 shares, a decline of 10.8% from the October 15th total of 9,240,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,400,000 shares, the days-to-cover ratio is currently 3.4 days.
Insider Activity at Fiserv
In other Fiserv news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The trade was a 40.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,711 shares of company stock worth $47,477,232 over the last 90 days. 0.75% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of FI. M&T Bank Corp grew its position in shares of Fiserv by 12.0% in the 3rd quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after purchasing an additional 15,103 shares during the period. Barclays PLC boosted its stake in Fiserv by 3.0% in the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after buying an additional 48,413 shares in the last quarter. Continuum Advisory LLC raised its position in Fiserv by 21.0% in the third quarter. Continuum Advisory LLC now owns 1,160 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 201 shares during the last quarter. LRI Investments LLC raised its position in shares of Fiserv by 2,305.9% during the third quarter. LRI Investments LLC now owns 20,426 shares of the business services provider’s stock worth $3,670,000 after acquiring an additional 19,577 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC increased its holdings in Fiserv by 4.5% in the third quarter. Drucker Wealth 3.0 LLC now owns 4,803 shares of the business services provider’s stock worth $863,000 after purchasing an additional 205 shares in the last quarter. 90.98% of the stock is owned by institutional investors.
Fiserv Trading Up 0.0 %
Shares of NYSE FI traded up $0.07 during midday trading on Friday, reaching $210.92. 2,279,330 shares of the stock were exchanged, compared to its average volume of 2,653,580. Fiserv has a 52-week low of $121.86 and a 52-week high of $215.50. The stock has a 50 day moving average price of $191.36 and a 200-day moving average price of $168.67. The company has a market capitalization of $120.00 billion, a P/E ratio of 40.56, a P/E/G ratio of 1.61 and a beta of 0.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.
Fiserv (NYSE:FI – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts expect that Fiserv will post 8.77 earnings per share for the current fiscal year.
Analyst Ratings Changes
FI has been the subject of a number of recent research reports. Citigroup increased their target price on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets lifted their target price on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.74.
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.