Bridges Investment Management Inc. Grows Stock Holdings in Fiserv, Inc. (NYSE:FI)

Bridges Investment Management Inc. grew its holdings in Fiserv, Inc. (NYSE:FI) by 173.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,507 shares of the business services provider’s stock after buying an additional 11,732 shares during the period. Bridges Investment Management Inc.’s holdings in Fiserv were worth $2,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of FI. Cooper Financial Group raised its position in shares of Fiserv by 3.1% during the 1st quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC raised its stake in Fiserv by 5.9% in the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 68 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in Fiserv by 3.3% in the 2nd quarter. Fielder Capital Group LLC now owns 2,130 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 68 shares in the last quarter. Andina Capital Management LLC boosted its stake in Fiserv by 3.1% during the 2nd quarter. Andina Capital Management LLC now owns 2,342 shares of the business services provider’s stock worth $349,000 after purchasing an additional 70 shares during the last quarter. Finally, Sage Mountain Advisors LLC grew its holdings in shares of Fiserv by 3.0% during the second quarter. Sage Mountain Advisors LLC now owns 2,447 shares of the business services provider’s stock worth $365,000 after buying an additional 72 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

Shares of NYSE:FI opened at $177.61 on Friday. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $178.89. The firm has a market capitalization of $103.92 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The company’s fifty day moving average price is $166.23 and its 200 day moving average price is $156.74.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. As a group, sell-side analysts predict 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 the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders sold a total of 66,890 shares of company stock valued at $10,853,407 over the last three months. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FI shares. Keefe, Bruyette & Woods raised their price target on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $154.00 to $175.00 in a research note on Monday, July 22nd. B. Riley raised their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. William Blair raised shares of Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.32.

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.