ProShare Advisors LLC Raises Holdings in Fiserv, Inc. (NYSE:FI)

ProShare Advisors LLC increased its position in Fiserv, Inc. (NYSE:FI) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 118,830 shares of the business services provider’s stock after acquiring an additional 2,559 shares during the quarter. ProShare Advisors LLC’s holdings in Fiserv were worth $17,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Symmetry Investments LP bought a new stake in shares of Fiserv in the second quarter valued at approximately $1,961,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Fiserv by 267.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,190 shares of the business services provider’s stock valued at $2,264,000 after buying an additional 11,059 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Fiserv by 2.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 191,892 shares of the business services provider’s stock valued at $28,600,000 after acquiring an additional 4,208 shares during the period. Pacer Advisors Inc. lifted its position in shares of Fiserv by 38.8% during the second quarter. Pacer Advisors Inc. now owns 62,455 shares of the business services provider’s stock worth $9,308,000 after acquiring an additional 17,462 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Fiserv by 0.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 118,534 shares of the business services provider’s stock worth $17,660,000 after acquiring an additional 500 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FI. William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective 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. KeyCorp increased their target price 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. B. Riley raised their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price target on shares of Fiserv from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.88.

Fiserv Trading Up 0.9 %

Shares of NYSE:FI opened at $179.27 on Tuesday. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $179.53. The stock’s fifty day moving average price is $166.70 and its 200-day moving average price is $157.03. The company has a market cap of $104.89 billion, a P/E ratio of 33.51, a PEG 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.

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 analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 earnings per share. Sell-side analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insider Transactions at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the 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 transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The disclosure for this sale can be found here. Insiders have sold a total of 211,890 shares of company stock worth $36,572,057 in the last ninety days. Insiders own 0.75% of the company’s stock.

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.