Riverwater Partners LLC Has $572,000 Stock Holdings in Fiserv, Inc. (NYSE:FI)

Riverwater Partners LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,591 shares of the business services provider’s stock after selling 572 shares during the quarter. Riverwater Partners LLC’s holdings in Fiserv were worth $572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FI. Vega Investment Solutions bought a new stake in Fiserv during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Fiserv during the 4th quarter valued at $28,000. Marshall Investment Management LLC bought a new stake in shares of Fiserv during the fourth quarter worth about $29,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv during the fourth quarter valued at $37,000. Finally, Quarry LP grew its position in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock valued at $42,000 after buying an additional 70 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In related news, 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 transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Fiserv Stock Down 1.4%

Shares of NYSE:FI opened at $161.19 on Friday. The firm has a market cap of $89.37 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90. The company has a fifty day simple moving average of $178.13 and a 200 day simple moving average of $202.10. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. Fiserv’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a share buyback plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

FI has been the subject of a number of research reports. Mizuho set a $200.00 price objective on Fiserv in a research note on Thursday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $268.00 price objective (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. UBS Group decreased their price target on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Royal Bank Of Canada set a $237.00 price objective on Fiserv in a report on Friday, April 25th. Finally, Jefferies Financial Group lowered their price objective on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $221.23.

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.