Chesley Taft & Associates LLC Sells 616 Shares of Fiserv, Inc. (NYSE:FI)

Chesley Taft & Associates LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 59,687 shares of the business services provider’s stock after selling 616 shares during the period. Chesley Taft & Associates LLC’s holdings in Fiserv were worth $12,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clean Yield Group raised its holdings in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC grew its stake 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 acquiring an additional 57 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Fiserv during the 3rd quarter worth approximately $40,000. Friedenthal Financial bought a new stake in shares of Fiserv in the fourth quarter worth $49,000. Finally, Northwest Investment Counselors LLC acquired a new position in Fiserv during the third quarter worth $44,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price objective on Fiserv from $225.00 to $238.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Tigress Financial raised their target price 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. Finally, StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Fiserv Stock Performance

Shares of NYSE:FI opened at $208.67 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 12-month low of $136.93 and a 12-month high of $223.23. The company’s 50 day moving average price is $209.33 and its two-hundred day moving average price is $187.72. The firm has a market cap of $118.71 billion, a PE ratio of 40.13, a PEG ratio of 1.37 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. Equities research analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Activity at Fiserv

In other news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction 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 transaction, the director now owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,821 shares of company stock valued at $18,581,095 over the last quarter. 0.75% of the stock is owned by corporate insiders.

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.