Impact Capital Partners LLC Cuts Position in Fiserv, Inc. (NYSE:FI)

Impact Capital Partners LLC decreased its holdings in Fiserv, Inc. (NYSE:FI) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,504 shares of the business services provider’s stock after selling 168 shares during the quarter. Impact Capital Partners LLC’s holdings in Fiserv were worth $774,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Fiserv in the fourth quarter valued at $1,406,452,000. GAMMA Investing LLC grew its holdings in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock valued at $843,991,000 after purchasing an additional 3,804,358 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Fiserv in the fourth quarter valued at $614,982,000. Kovitz Investment Group Partners LLC grew its holdings in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after purchasing an additional 2,174,025 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $268.00 target price (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Wall Street Zen began coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating for the company. The Goldman Sachs Group dropped their price objective on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Piper Sandler set a $218.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.27.

Fiserv Stock Performance

Fiserv stock 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 one year low of $146.25 and a one year high of $238.59. The stock’s 50 day moving average price is $185.54 and its 200 day moving average price is $205.52. The firm has a market capitalization of $92.54 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings results 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. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.