Connective Portfolio Management LLC Invests $697,000 in Fiserv, Inc. (NYSE:FI)

Connective Portfolio Management LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,500 shares of the business services provider’s stock, valued at approximately $697,000. Fiserv comprises about 0.8% of Connective Portfolio Management LLC’s portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Fiserv by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock valued at $7,147,305,000 after purchasing an additional 417,459 shares during the last quarter. Capital World Investors lifted its position in Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after buying an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Fiserv by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock worth $1,069,204,000 after buying an additional 64,332 shares during the period. BlueSpruce Investments LP bought a new position in Fiserv during the fourth quarter valued at $646,368,000. Finally, Legal & General Group Plc raised its stake in shares of Fiserv by 1.9% in the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock valued at $687,489,000 after acquiring an additional 85,598 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value 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 $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,890 shares of company stock worth $36,572,057. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on FI. B. Riley lifted their price target on shares of Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer assumed coverage on Fiserv in a report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Wells Fargo & Company increased their target price on Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, 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. Four research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.64.

Fiserv Stock Down 0.2 %

NYSE FI traded down $0.39 during trading on Wednesday, hitting $187.55. The company’s stock had a trading volume of 168,132 shares, compared to its average volume of 2,446,029. 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. 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 business’s 50 day simple moving average is $171.65 and its 200-day simple moving average is $159.27. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $188.85.

Fiserv (NYSE:FI) last issued its earnings results 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 firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 earnings per share. On average, equities analysts anticipate that Fiserv, Inc. will post 8.74 EPS for the current fiscal 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.