King Luther Capital Management Corp Buys 39,022 Shares of Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 49.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,607 shares of the business services provider’s stock after acquiring an additional 39,022 shares during the period. King Luther Capital Management Corp’s holdings in Fiserv were worth $17,677,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bridges Investment Management Inc. boosted its position in Fiserv by 173.2% during the 2nd quarter. Bridges Investment Management Inc. now owns 18,507 shares of the business services provider’s stock worth $2,758,000 after acquiring an additional 11,732 shares during the last quarter. Davidson Capital Management Inc. lifted its position in shares of Fiserv by 10.3% in the second quarter. Davidson Capital Management Inc. now owns 20,203 shares of the business services provider’s stock worth $3,011,000 after purchasing an additional 1,894 shares in the last quarter. Ieq Capital LLC boosted its holdings in Fiserv by 7.9% during the second quarter. Ieq Capital LLC now owns 32,422 shares of the business services provider’s stock worth $4,832,000 after purchasing an additional 2,366 shares during the last quarter. Brighton Jones LLC grew its position in Fiserv by 25.1% in the second quarter. Brighton Jones LLC now owns 3,201 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 643 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Fiserv by 27.6% in the 2nd quarter. Intech Investment Management LLC now owns 54,399 shares of the business services provider’s stock valued at $8,108,000 after buying an additional 11,768 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Down 0.7 %

FI opened at $177.61 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average of $166.23 and a 200-day moving average of $156.74. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $178.89. The company 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.

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

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the sale, 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. Insiders have sold 66,890 shares of company stock valued at $10,853,407 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FI. Keefe, Bruyette & Woods increased their price objective 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. Citigroup upgraded Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets boosted their target price on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” 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. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

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.