Brookstone Capital Management Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Brookstone Capital Management decreased its stake in Fiserv, Inc. (NYSE:FIFree Report) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,822 shares of the business services provider’s stock after selling 31,484 shares during the quarter. Brookstone Capital Management’s holdings in Fiserv were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FI. FMR LLC grew its stake in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Legal & General Group Plc boosted its holdings in Fiserv by 1.9% during the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after buying an additional 85,598 shares in the last quarter. Sanders Capital LLC acquired a new stake in Fiserv during the third quarter valued at $764,543,000. Blair William & Co. IL increased its holdings in Fiserv by 2.5% in the second quarter. Blair William & Co. IL now owns 2,171,391 shares of the business services provider’s stock valued at $323,624,000 after buying an additional 52,748 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Fiserv by 3.0% in the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after acquiring an additional 48,413 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of FI opened at $204.12 on Thursday. Fiserv, Inc. has a 1-year low of $135.97 and a 1-year high of $223.23. The stock has a market cap of $116.13 billion, a PE ratio of 39.25, a P/E/G ratio of 1.56 and a beta of 0.94. The firm has a 50-day simple moving average of $209.69 and a two-hundred day simple moving average of $186.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07.

Fiserv (NYSE:FIGet Free Report) 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 during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction that occurred 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 owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 34.43 % 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. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 90,821 shares of company stock worth $18,581,095 over the last three months. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FI. Citigroup lifted their price target on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group increased their target price on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Susquehanna increased their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Finally, UBS Group increased their price objective on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.17.

View Our Latest Stock Report on FI

About Fiserv

(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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Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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