Fiserv, Inc. $FI Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in Fiserv, Inc. (NYSE:FI) by 96.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,483 shares of the business services provider’s stock after selling 73,756 shares during the quarter. iA Global Asset Management Inc.’s holdings in Fiserv were worth $428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock valued at $11,059,063,000 after buying an additional 535,407 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Fiserv by 77.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Fiserv by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock valued at $1,829,451,000 after buying an additional 253,544 shares during the period. Nuveen LLC acquired a new stake in Fiserv during the first quarter worth $1,722,584,000. Finally, Alliancebernstein L.P. increased its stake in Fiserv by 5.3% during the first quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider’s stock worth $1,264,178,000 after acquiring an additional 287,420 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In related news, Director Lance M. Fritz bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the acquisition, the director owned 13,086 shares in the company, valued at approximately $852,945.48. This trade represents a 324.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several recent analyst reports. BTIG Research cut Fiserv from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 29th. Jefferies Financial Group cut their target price on Fiserv from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Seaport Res Ptn cut Fiserv from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Susquehanna cut their target price on Fiserv from $240.00 to $220.00 and set a “positive” rating for the company in a research note on Thursday, July 24th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Fiserv in a research note on Wednesday, October 29th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fiserv has a consensus rating of “Hold” and an average price target of $131.95.

Fiserv Trading Down 1.2%

Shares of NYSE FI opened at $64.34 on Wednesday. Fiserv, Inc. has a twelve month low of $63.71 and a twelve month high of $238.59. The company has a current ratio of 1.08, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The stock has a fifty day simple moving average of $123.28 and a 200-day simple moving average of $148.91. The stock has a market capitalization of $34.97 billion, a PE ratio of 9.94, a PEG ratio of 0.56 and a beta of 0.95.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The business had revenue of $4.32 billion during the quarter. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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.