Hemenway Trust Co LLC Trims Holdings in Fiserv, Inc. (NYSE:FI)

Hemenway Trust Co LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,946 shares of the business services provider’s stock after selling 11,369 shares during the period. Fiserv comprises 3.8% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 6th largest holding. Hemenway Trust Co LLC’s holdings in Fiserv were worth $48,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FI. Wellington Shields & Co. LLC bought a new stake in Fiserv in the first quarter valued at approximately $25,000. Family Firm Inc. bought a new stake in Fiserv in the second quarter valued at approximately $31,000. Clean Yield Group boosted its holdings in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Fiserv by 95.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the completion of the transaction, the director now directly owns 33,235 shares in the company, valued at approximately $6,684,555.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,890 shares of company stock worth $46,968,117. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FI shares. BMO Capital Markets boosted their price target on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer started coverage on Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on Fiserv from $188.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Fiserv Stock Performance

FI traded down $0.29 during trading on Tuesday, hitting $214.57. 49,705 shares of the company traded hands, compared to its average volume of 2,473,897. The firm has a market cap of $122.07 billion, a P/E ratio of 41.32, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. 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 one year low of $121.07 and a one year high of $215.45. The stock’s fifty day moving average is $188.18 and its 200 day moving average is $167.00.

Fiserv (NYSE:FI) last posted its quarterly earnings results 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. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. Fiserv’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

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.