SPC Financial Inc. Makes New Investment in Fiserv, Inc. (NYSE:FI)

SPC Financial Inc. purchased a new position in Fiserv, Inc. (NYSE:FI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,379 shares of the business services provider’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Scotia Capital Inc. purchased a new stake in Fiserv during the 4th quarter valued at $1,046,000. Eagle Asset Management Inc. bought a new stake in shares of Fiserv in the fourth quarter worth $6,684,000. The Manufacturers Life Insurance Company purchased a new stake in Fiserv during the fourth quarter valued at $98,415,000. NEOS Investment Management LLC bought a new position in Fiserv in the fourth quarter valued at about $1,128,000. Finally, CIBC Asset Management Inc purchased a new position in Fiserv in the fourth quarter worth about $15,534,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Fiserv stock opened at $181.33 on Wednesday. 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 firm has a market capitalization of $106.10 billion, a P/E ratio of 33.89, a price-to-earnings-growth 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 $181.88. The company’s 50-day moving average is $169.23 and its 200 day moving average is $158.22.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current year.

Analyst Upgrades and Downgrades

FI has been the topic of several recent research reports. BMO Capital Markets increased their price objective on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer started coverage on shares of Fiserv in a research note on Tuesday. They set an “outperform” rating and a $203.00 price target on the stock. TD Cowen boosted their price objective on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Citigroup raised Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $176.28.

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the business’s 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 $525,916,949.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’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 transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction 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 owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,890 shares of company stock worth $36,572,057. 0.75% of the stock is currently owned by insiders.

Fiserv Company 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.