Cobblestone Capital Advisors LLC NY Makes New $235,000 Investment in Fiserv, Inc. (NYSE:FI)

Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,310 shares of the business services provider’s stock, valued at approximately $235,000.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its position in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $1,069,204,000 after purchasing an additional 64,332 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Fiserv by 1.9% during 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 purchasing an additional 85,598 shares in the last quarter. Sanders Capital LLC bought a new stake in Fiserv in the 3rd quarter worth about $764,543,000. Finally, Dimensional Fund Advisors LP increased its holdings in Fiserv by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after buying an additional 225,159 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on 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 completion of 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 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares in the company, valued at approximately $15,386,074.60. The trade was a 34.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,821 shares of company stock worth $44,299,745. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FI has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Susquehanna lifted their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, October 18th. Morgan Stanley increased their price target on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Barclays raised their price target on Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Tigress Financial upped their price objective on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Four 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.com, the company has an average rating of “Moderate Buy” and an average price target of $214.29.

Fiserv Price Performance

Shares of Fiserv stock opened at $220.96 on Monday. The company has a market capitalization of $125.71 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 1.69 and a beta of 0.92. 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 $200.25 and its 200-day simple moving average is $173.36. Fiserv, Inc. has a 52 week low of $128.43 and a 52 week high of $223.23.

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

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.