King Luther Capital Management Corp Purchases 23,673 Shares of Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp boosted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,280 shares of the business services provider’s stock after purchasing an additional 23,673 shares during the period. King Luther Capital Management Corp’s holdings in Fiserv were worth $25,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Shields & Co. LLC acquired a new stake in shares of Fiserv during the first quarter worth approximately $25,000. Family Firm Inc. bought a new stake in shares of Fiserv during the second quarter worth approximately $31,000. Clean Yield Group boosted its position in shares of Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its holdings in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares during the period. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $217.55 on Friday. Fiserv, Inc. has a twelve month low of $125.05 and a twelve month high of $219.11. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $194.83 and its 200 day simple moving average is $170.25. The firm has a market capitalization of $123.77 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.96 EPS. On average, analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on FI. Royal Bank of Canada raised their price target on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price objective on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group upped their price objective on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, BTIG Research initiated coverage on shares of Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

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.