Salem Investment Counselors Inc. Trims Stake in Fiserv, Inc. (NYSE:FI)

Salem Investment Counselors Inc. cut its stake in Fiserv, Inc. (NYSE:FI) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,153 shares of the business services provider’s stock after selling 490 shares during the period. Salem Investment Counselors Inc.’s holdings in Fiserv were worth $475,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vega Investment Solutions purchased a new stake in shares of Fiserv in the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in Fiserv during the fourth quarter worth about $28,000. Marshall Investment Management LLC purchased a new stake in Fiserv in the fourth quarter worth about $29,000. Campbell Capital Management Inc. purchased a new stake in Fiserv in the fourth quarter worth about $37,000. Finally, Quarry LP increased its stake in shares of Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley reiterated an “overweight” rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. The Goldman Sachs Group cut their target price on Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. Finally, UBS Group cut their price objective on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.27.

Fiserv Stock Performance

FI opened at $162.79 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company has a 50 day simple moving average of $181.52 and a two-hundred day simple moving average of $203.68. The firm has a market cap of $90.26 billion, a P/E ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate 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 net margin of 15.31% and a return on equity of 17.93%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.