Assenagon Asset Management S.A. Has $26.55 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Assenagon Asset Management S.A. cut its holdings in Fiserv, Inc. (NYSE:FI) by 31.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,781 shares of the business services provider’s stock after selling 69,351 shares during the period. Assenagon Asset Management S.A.’s holdings in Fiserv were worth $26,549,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norden Group LLC bought a new position in Fiserv in the first quarter valued at approximately $2,359,000. ORG Partners LLC boosted its holdings in shares of Fiserv by 3,016.0% in the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after buying an additional 3,197 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Fiserv in the first quarter valued at $32,000. Park Place Capital Corp increased its holdings in Fiserv by 66.3% during the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after buying an additional 2,794 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Fiserv by 377.3% during the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock worth $9,047,000 after acquiring an additional 44,776 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $199.52 on Friday. The firm has a market cap of $116.74 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $180.04 and its 200-day moving average is $162.37. Fiserv, Inc. has a 12-month low of $111.53 and a 12-month high of $204.50.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $1.96 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FI. KeyCorp lifted their price objective on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday. BTIG Research started coverage on Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target on the stock. UBS Group raised their price objective on Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, William Blair raised Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Four research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.38.

Insiders Place Their Bets

In related news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 of the company’s stock, valued at $15,386,074.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,890 shares of company stock valued at $40,934,217 over the last 90 days. Insiders own 0.75% of the company’s stock.

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.