Puzo Michael J Decreases Stake in Fiserv, Inc. (NYSE:FI)

Puzo Michael J decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,956 shares of the business services provider’s stock after selling 4,565 shares during the period. Fiserv accounts for approximately 4.4% of Puzo Michael J’s holdings, making the stock its 3rd biggest holding. Puzo Michael J’s holdings in Fiserv were worth $15,448,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Fiserv by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock valued at $2,435,280,000 after buying an additional 218,833 shares during the period. FMR LLC lifted its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after purchasing an additional 1,121,597 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Fiserv by 5.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock worth $1,424,907,000 after purchasing an additional 340,938 shares during the period. Finally, Norges Bank acquired a new stake in shares of Fiserv during the fourth quarter worth $1,406,452,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Down 1.0%

Shares of FI opened at $163.32 on Wednesday. The firm has a market cap of $90.55 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv, Inc. has a 52 week low of $146.46 and a 52 week high of $238.59. The firm’s 50-day simple moving average is $179.98 and its 200 day simple moving average is $202.78.

Fiserv (NYSE:FI) last posted its earnings results 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 company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has approved 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 buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

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 completion of the transaction, the insider now owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Susquehanna reduced their target price on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Wall Street Zen initiated coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada set a $237.00 target price on Fiserv in a report on Friday, April 25th. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.27.

Fiserv 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.