Victory Capital Management Inc. Sells 22,689 Shares of Fiserv, Inc. (NYSE:FI)

Victory Capital Management Inc. lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,547 shares of the business services provider’s stock after selling 22,689 shares during the quarter. Victory Capital Management Inc.’s holdings in Fiserv were worth $52,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of 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 acquiring an additional 1,306,901 shares during the period. Capital World Investors grew its stake in Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after purchasing an additional 1,303,078 shares during the period. Maj Invest Holding A S bought a new position in Fiserv in the third quarter worth $172,993,000. Manning & Napier Advisors LLC purchased a new position in Fiserv during the second quarter valued at $105,031,000. Finally, American Century Companies Inc. boosted its holdings in shares of Fiserv by 1,642.5% during the 2nd quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after buying an additional 471,531 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FI. UBS Group lifted their price target on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird increased their target price on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Finally, BTIG Research started coverage on Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target for the company. Four equities research 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 stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Insiders Place Their Bets

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction 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 $525,916,949.08. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,711 shares of company stock worth $47,477,232 over the last three months. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Down 1.1 %

NYSE:FI opened at $210.87 on Friday. Fiserv, Inc. has a one year low of $121.86 and a one year high of $215.50. The business has a fifty day moving average price of $189.77 and a 200-day moving average price of $167.73. The firm has a market capitalization of $119.97 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92. 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:FI) last posted its quarterly earnings data 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. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. Sell-side analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current year.

Fiserv Company 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.