Fiserv, Inc. (NYSE:FI) Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its stake in Fiserv, Inc. (NYSE:FI) by 267.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,190 shares of the business services provider’s stock after purchasing an additional 11,059 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Fiserv were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Fiserv during the fourth quarter valued at about $5,885,279,000. Capital World Investors acquired a new position in shares of Fiserv in the 4th quarter valued at approximately $2,329,623,000. Veritas Asset Management LLP acquired a new stake in shares of Fiserv during the fourth quarter worth approximately $927,298,000. Parnassus Investments LLC bought a new stake in shares of Fiserv in the fourth quarter worth $900,674,000. Finally, Northern Trust Corp acquired a new stake in Fiserv in the fourth quarter valued at $784,200,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a 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 note on Tuesday, August 20th. TD Cowen lifted their price target on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp increased their price objective on shares of Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley upgraded Fiserv from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.88.

Fiserv Trading Up 0.9 %

NYSE:FI opened at $179.27 on Tuesday. The company has a market capitalization of $104.89 billion, a P/E ratio of 33.51, a P/E/G ratio of 1.38 and a beta of 0.93. The stock’s 50 day moving average price is $166.70 and its 200 day moving average price is $157.03. 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, Inc. has a 52 week low of $109.11 and a 52 week high of $179.53.

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

Insiders Place Their Bets

In related news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’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 completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock valued at $36,572,057 over the last quarter. Insiders own 0.75% of the company’s stock.

Fiserv Company 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.