Perkins Coie Trust Co Grows Holdings in Fiserv, Inc. (NYSE:FI)

Perkins Coie Trust Co grew its holdings in Fiserv, Inc. (NYSE:FI) by 215.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,990 shares of the business services provider’s stock after purchasing an additional 4,089 shares during the period. Perkins Coie Trust Co’s holdings in Fiserv were worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Fiserv during the fourth quarter valued at $5,885,279,000. BlueSpruce Investments LP purchased a new position in shares of Fiserv during the fourth quarter valued at $646,368,000. ValueAct Holdings L.P. purchased a new position in shares of Fiserv during the fourth quarter valued at $556,446,000. Mairs & Power Inc. purchased a new position in shares of Fiserv during the fourth quarter valued at $258,202,000. Finally, Bessemer Group Inc. increased its stake in shares of Fiserv by 67.2% during the first quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock valued at $519,690,000 after buying an additional 1,306,901 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. B. Riley raised their price objective on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup raised Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, BTIG Research assumed coverage on Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.64.

Fiserv Stock Performance

FI stock traded down $0.39 during trading on Wednesday, hitting $187.55. 168,132 shares of the company traded hands, compared to its average volume of 2,446,029. The stock’s 50-day simple moving average is $171.65 and its 200 day simple moving average is $159.27. 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 has a market cap of $109.74 billion, a PE ratio of 35.12, a P/E/G ratio of 1.45 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $188.85.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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%. Fiserv’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $1.81 earnings per share. On average, equities analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of the business’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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the business’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 sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock worth $36,572,057 over the last three months. 0.75% of the stock is currently owned by corporate insiders.

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.