Frank Rimerman Advisors LLC Has $876,000 Holdings in Fiserv, Inc. (NYSE:FI)

Frank Rimerman Advisors LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 36,618.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,875 shares of the business services provider’s stock after acquiring an additional 5,859 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Fiserv were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC increased its stake in Fiserv by 2.2% during the 2nd quarter. ProShare Advisors LLC now owns 118,830 shares of the business services provider’s stock valued at $17,710,000 after purchasing an additional 2,559 shares in the last quarter. Symmetry Investments LP bought a new stake in shares of Fiserv during the second quarter worth about $1,961,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of 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 worth $2,264,000 after acquiring an additional 11,059 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Fiserv by 2.2% in 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 in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Fiserv by 38.8% during the 2nd quarter. Pacer Advisors Inc. now owns 62,455 shares of the business services provider’s stock valued at $9,308,000 after purchasing an additional 17,462 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on FI shares. Keefe, Bruyette & Woods lifted their target price on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Morgan Stanley upgraded shares of Fiserv from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Finally, William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

Insider Transactions at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company’s 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 directly owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on Friday, September 20th. The shares were 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 approximately $525,916,949.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction 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 owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,890 shares of company stock valued at $36,572,057. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

NYSE:FI opened at $179.27 on Tuesday. The business’s fifty day moving average is $166.70 and its 200 day moving average is $157.03. The firm has a market cap of $104.89 billion, a price-to-earnings 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 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 released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company 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%. Fiserv’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $1.81 earnings per share. Research analysts predict that Fiserv, Inc. will post 8.74 EPS for the current year.

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.