Stonegate Investment Group LLC Cuts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Stonegate Investment Group LLC decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,199 shares of the business services provider’s stock after selling 75 shares during the period. Stonegate Investment Group LLC’s holdings in Fiserv were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC acquired a new stake in Fiserv in the 3rd quarter worth approximately $764,543,000. FMR LLC boosted its stake in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Maj Invest Holding A S acquired a new stake in Fiserv in the 3rd quarter worth approximately $172,993,000. Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in Fiserv by 1,238.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.5 %

Shares of NYSE:FI opened at $212.82 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $121.08 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. The firm’s 50-day moving average is $208.96 and its two-hundred day moving average is $190.20. Fiserv, Inc. has a 1 year low of $137.13 and a 1 year high of $223.23.

Insiders Place Their Bets

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price for the company. Tigress Financial lifted their price objective on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their price objective on shares of Fiserv from $220.00 to $258.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Citigroup lifted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

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.