Seven Eight Capital LP Makes New $1.37 Million Investment in Fiserv, Inc. (NYSE:FI)

Seven Eight Capital LP purchased a new stake in Fiserv, Inc. (NYSE:FI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,183 shares of the business services provider’s stock, valued at approximately $1,369,000.

A number of other hedge funds also recently made changes to their positions in FI. Price T Rowe Associates Inc. MD increased its position in Fiserv by 0.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after purchasing an additional 417,459 shares during the period. Capital World Investors raised its stake in Fiserv by 7.4% during 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 buying an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after buying an additional 64,332 shares during the last quarter. Veritas Asset Management LLP acquired a new position in Fiserv in the fourth quarter valued at $927,298,000. Finally, Parnassus Investments LLC bought a new stake in Fiserv during the fourth quarter valued at $900,674,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FI. KeyCorp lifted 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. Wells Fargo & Company boosted their price target on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, B. Riley raised their price target on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

Fiserv Trading Up 2.0 %

NYSE:FI opened at $178.79 on Friday. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $178.89. The firm has a 50-day moving average price of $165.74 and a two-hundred day moving average price of $156.54. The firm has a market cap of $104.61 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06.

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

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,890 shares of company stock valued at $10,853,407. 0.75% of the stock is owned by insiders.

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.