Miracle Mile Advisors LLC Acquires 777 Shares of Fiserv, Inc. (NYSE:FI)

Miracle Mile Advisors LLC raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 9.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,695 shares of the business services provider’s stock after purchasing an additional 777 shares during the period. Miracle Mile Advisors LLC’s holdings in Fiserv were worth $1,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Waterloo Capital L.P. purchased a new stake in shares of Fiserv during the fourth quarter valued at approximately $309,000. Connectus Wealth LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at approximately $2,887,000. Elo Mutual Pension Insurance Co purchased a new stake in shares of Fiserv during the fourth quarter valued at approximately $7,070,000. State of Tennessee Treasury Department purchased a new stake in Fiserv in the fourth quarter worth approximately $36,553,000. Finally, Regal Investment Advisors LLC purchased a new stake in Fiserv in the fourth quarter worth approximately $1,093,000. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $3,959,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $27,005,424.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. Insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE FI opened at $184.98 on Tuesday. 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 company has a market cap of $108.23 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.45 and a beta of 0.93. The firm’s fifty day moving average is $170.71 and its two-hundred day moving average is $158.85. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $186.26.

Fiserv (NYSE:FI) last announced its quarterly earnings results 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. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. Fiserv’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. As a group, analysts anticipate that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.

Analysts Set New Price Targets

FI has been the topic of several research reports. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. KeyCorp raised their target price on shares of Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and issued a $183.00 target price on shares of Fiserv in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets lifted their price target on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average target price of $177.64.

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.