Fiserv, Inc. (NYSE:FI) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 13.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,838 shares of the business services provider’s stock after selling 587 shares during the quarter. Intellectus Partners LLC’s holdings in Fiserv were worth $848,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vega Investment Solutions purchased a new position in shares of Fiserv during the 4th quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the fourth quarter worth approximately $28,000. Marshall Investment Management LLC acquired a new position in Fiserv during the fourth quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in Fiserv during the fourth quarter worth approximately $31,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FI has been the subject of a number of research analyst reports. Tigress Financial upped their price objective on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Truist Financial began coverage on Fiserv in a research note on Monday, June 2nd. They set a “buy” rating and a $181.00 price target for the company. Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. Jefferies Financial Group decreased their target price on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Finally, UBS Group dropped their target price on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Stock Up 0.9%

Shares of NYSE FI opened at $166.90 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The stock’s 50-day simple moving average is $185.54 and its 200-day simple moving average is $205.52. The firm has a market cap of $92.54 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm earned $1.88 EPS. Fiserv’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider now owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

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.