Renaissance Technologies LLC Purchases Shares of 169,527 Fiserv, Inc. (NYSE:FI)

Renaissance Technologies LLC purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 169,527 shares of the business services provider’s stock, valued at approximately $25,266,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new stake in Fiserv during the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in Fiserv during the 4th quarter valued at $27,000. RE Dickinson Investment Advisors LLC acquired a new stake in Fiserv during the 4th quarter valued at $27,000. Family Firm Inc. acquired a new stake in Fiserv during the 2nd quarter valued at $31,000. Finally, ZRC Wealth Management LLC acquired a new stake in Fiserv during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $178.79 on Friday. The stock’s 50-day simple moving average is $165.74 and its 200 day simple moving average is $156.54. The firm has a market capitalization of $104.61 billion, a PE ratio of 33.42, a price-to-earnings-growth 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, Inc. has a twelve month low of $109.11 and a twelve month high of $178.89.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. William Blair upgraded Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Citigroup upgraded Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. BTIG Research assumed coverage on Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, KeyCorp increased their price objective on Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $27,005,424.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,890 shares of company stock valued at $10,853,407. 0.75% of the stock is currently owned by corporate insiders.

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.