Harber Asset Management LLC Sells 9,575 Shares of Fiserv, Inc. (NYSE:FI)

Harber Asset Management LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 27.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,945 shares of the business services provider’s stock after selling 9,575 shares during the period. Fiserv makes up 1.4% of Harber Asset Management LLC’s portfolio, making the stock its 25th biggest position. Harber Asset Management LLC’s holdings in Fiserv were worth $4,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Fiserv by 17.8% in the third 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Fiserv by 0.9% in the 2nd 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 acquiring an additional 64,332 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Fiserv by 1.9% in the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after purchasing an additional 85,598 shares in the last quarter. Sanders Capital LLC acquired a new position in shares of Fiserv during the 3rd quarter worth approximately $764,543,000. Finally, Dimensional Fund Advisors LP lifted its stake 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 valued at $441,173,000 after purchasing an additional 225,159 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

NYSE:FI opened at $218.46 on Tuesday. Fiserv, Inc. has a 12 month low of $129.60 and a 12 month high of $223.23. The firm has a market cap of $124.28 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $200.25 and a two-hundred day moving average of $173.36.

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

Analysts Set New Price Targets

Several brokerages have weighed in on FI. Citigroup lifted their price objective on shares of Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. Morgan Stanley raised their target price on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Robert W. Baird increased their target price on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. TD Cowen upped their price objective on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average price target of $214.29.

Insiders Place Their Bets

In other Fiserv news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $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. Insiders have sold a total of 235,821 shares of company stock worth $44,299,745 in the last quarter. 0.75% of the stock is owned by company 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.