Meiji Yasuda Asset Management Co Ltd. Sells 15,514 Shares of Fiserv, Inc. (NYSE:FI)

Meiji Yasuda Asset Management Co Ltd. decreased its position in Fiserv, Inc. (NYSE:FI) by 58.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,936 shares of the business services provider’s stock after selling 15,514 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fiserv were worth $1,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Fiserv in the 1st quarter worth about $2,359,000. BlueSpruce Investments LP bought a new position in shares of Fiserv in the fourth quarter worth approximately $646,368,000. ORG Partners LLC grew its holdings in shares of Fiserv by 3,016.0% during the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after buying an additional 3,197 shares during the last quarter. TD Asset Management Inc bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $39,137,000. Finally, ZRC Wealth Management LLC purchased a new position in Fiserv in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

NYSE:FI opened at $178.79 on Friday. The business’s 50-day simple moving average is $165.74 and its two-hundred day simple moving average is $156.54. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $178.89. The stock has a market cap of $104.61 billion, a PE ratio of 33.42, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on FI. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley upgraded shares of Fiserv from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $154.00 to $175.00 in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, BTIG Research assumed coverage on Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $174.32.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the business’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 sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fiserv news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,890 shares of company stock valued at $10,853,407. Corporate insiders own 0.75% of the company’s stock.

Fiserv 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.