Blackston Financial Advisory Group LLC Lowers Stock Position in Fiserv, Inc. (NYSE:FI)

Blackston Financial Advisory Group LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380 shares of the business services provider’s stock after selling 146 shares during the period. Blackston Financial Advisory Group LLC’s holdings in Fiserv were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vega Investment Solutions bought a new stake in Fiserv in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new position in shares of Fiserv during the fourth quarter worth approximately $28,000. Marshall Investment Management LLC bought a new stake in shares of Fiserv in the 4th quarter worth approximately $29,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Quarry LP grew its holdings in shares of Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Fiserv Trading Up 1.2%

NYSE:FI opened at $164.94 on Tuesday. The firm has a market capitalization of $91.45 billion, a P/E ratio of 30.60, a PEG ratio of 1.52 and a beta of 0.90. 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 one year low of $146.46 and a one year high of $238.59. The company’s 50-day simple moving average is $180.92 and its 200 day simple moving average is $203.05.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. As a group, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has approved a share buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FI shares. Truist Financial started coverage on Fiserv in a research note on Monday, June 2nd. They set a “buy” rating and a $181.00 price objective on the stock. 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 note on Monday, May 19th. Royal Bank of Canada set a $237.00 target price on shares of Fiserv in a report on Friday, April 25th. BMO Capital Markets dropped their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.27.

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.