Logan Capital Management Inc. Sells 23,773 Shares of Fiserv, Inc. $FI

Logan Capital Management Inc. trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 31.3% in the second quarter, Holdings Channel reports. The fund owned 52,072 shares of the business services provider’s stock after selling 23,773 shares during the period. Logan Capital Management Inc.’s holdings in Fiserv were worth $8,978,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock valued at $11,059,063,000 after purchasing an additional 535,407 shares during the period. JPMorgan Chase & Co. lifted its stake in Fiserv by 77.2% in the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock valued at $3,390,793,000 after buying an additional 6,691,703 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock valued at $1,829,451,000 after buying an additional 253,544 shares during the period. Nuveen LLC bought a new stake in shares of Fiserv during the first quarter worth $1,722,584,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Fiserv by 5.3% during the first quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider’s stock worth $1,264,178,000 after acquiring an additional 287,420 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

FI has been the subject of a number of research analyst reports. Citigroup raised shares of Fiserv to a “hold” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Fiserv from $190.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. BTIG Research set a $180.00 target price on Fiserv and gave the company a “buy” rating in a research report on Friday, October 17th. Barclays set a $175.00 target price on Fiserv and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft set a $122.00 price objective on shares of Fiserv in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $181.89.

Fiserv Stock Up 0.9%

NYSE:FI opened at $126.30 on Tuesday. Fiserv, Inc. has a twelve month low of $117.84 and a twelve month high of $238.59. The firm has a market capitalization of $68.66 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 0.83 and a beta of 0.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $130.79 and its two-hundred day moving average price is $154.90.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. The company had revenue of $4.32 billion during the quarter. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal 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.