Cassaday & Co Wealth Management LLC Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Cassaday & Co Wealth Management LLC decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,764 shares of the business services provider’s stock after selling 70 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Fiserv were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Shields & Co. LLC purchased a new position in shares of Fiserv during the 1st quarter worth $25,000. Clean Yield Group increased its position in Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. Family Firm Inc. acquired a new position in Fiserv in the 2nd quarter valued at about $31,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Fiserv in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of FI opened at $212.77 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm’s fifty day simple moving average is $192.16 and its 200-day simple moving average is $169.12. The firm has a market capitalization of $121.05 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 1.61 and a beta of 0.92. Fiserv, Inc. has a twelve month low of $121.86 and a twelve month high of $215.50.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. 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 firm posted $1.96 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FI has been the subject of several recent analyst reports. Tigress Financial raised their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. B. Riley raised their price objective on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays upped their target price on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BTIG Research assumed coverage on shares of Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target for the company. Finally, Stephens upped their price objective on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.52.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This represents a 40.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The trade was a 4.66 % 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 three months. Insiders own 0.75% of the company’s stock.

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.