Fiserv, Inc. (NYSE:FI) is Cortland Associates Inc. MO's Largest Position

Cortland Associates Inc. MO reduced its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,100 shares of the business services provider's stock after selling 7,989 shares during the period. Fiserv comprises approximately 9.5% of Cortland Associates Inc. MO's portfolio, making the stock its largest position. Cortland Associates Inc. MO owned approximately 0.08% of Fiserv worth $73,693,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FI. DAVENPORT & Co LLC lifted its position in shares of Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider's stock worth $1,483,000 after purchasing an additional 2,002 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Fiserv by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider's stock valued at $1,151,000 after acquiring an additional 1,859 shares during the last quarter. Private Trust Co. NA lifted its position in Fiserv by 60.4% in the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider's stock valued at $246,000 after acquiring an additional 821 shares during the last quarter. UMB Bank n.a. lifted its position in Fiserv by 1.0% in the third quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider's stock valued at $1,742,000 after acquiring an additional 147 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Fiserv by 14.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,660 shares of the business services provider's stock valued at $526,000 after acquiring an additional 578 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,477,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FI shares. UBS Group boosted their price target on shares of Fiserv from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday. Oppenheimer raised shares of Fiserv from a "market perform" rating to an "outperform" rating and set a $168.00 price target for the company in a research report on Thursday, January 11th. Royal Bank of Canada boosted their price target on shares of Fiserv from $158.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup boosted their price target on shares of Fiserv from $171.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Fiserv from $133.00 to $142.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of "Moderate Buy" and an average target price of $164.33.

Fiserv Price Performance

FI traded up $2.60 on Friday, hitting $155.89. 3,196,489 shares of the company were exchanged, compared to its average volume of 2,315,910. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The business's fifty day moving average is $152.54 and its 200 day moving average is $137.90. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The firm has a market capitalization of $91.21 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 8.69 EPS for the current year.

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.

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