Carmel Capital Management L.L.C. Buys 9,370 Shares of Fiserv, Inc. (NYSE:FI)

Carmel Capital Management L.L.C. raised its stake in Fiserv, Inc. (NYSE:FI) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,610 shares of the business services provider’s stock after buying an additional 9,370 shares during the quarter. Fiserv accounts for about 3.6% of Carmel Capital Management L.L.C.’s portfolio, making the stock its 12th largest position. Carmel Capital Management L.L.C.’s holdings in Fiserv were worth $9,575,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Fiserv

In related news, Director Heidi Miller sold 30,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the transaction, the director now owns 33,235 shares in the company, valued at approximately $6,684,555.55. This represents a 47.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $206.35 on Friday. Fiserv, Inc. has a 52 week low of $137.13 and a 52 week high of $223.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day moving average price of $209.15 and a two-hundred day moving average price of $188.28. The firm has a market capitalization of $117.40 billion, a P/E ratio of 39.68, a P/E/G ratio of 1.37 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on FI shares. Royal Bank of Canada boosted their price target on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their price objective on shares of Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group increased their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.00.

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.