Fiserv, Inc. (NYSE:FI) Stock Position Lowered by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its position in Fiserv, Inc. (NYSE:FI) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,477 shares of the business services provider’s stock after selling 725 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Fiserv were worth $3,639,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vega Investment Solutions acquired a new position in Fiserv in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in Fiserv in the 4th quarter valued at approximately $28,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the 4th quarter valued at approximately $37,000. Quarry LP increased its stake in 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 period. Finally, Knuff & Co LLC acquired a new position in Fiserv in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FI shares. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. UBS Group dropped their price target on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen started coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada set a $237.00 price target on shares of Fiserv in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.23.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at $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. Insiders own 0.74% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $170.53 on Thursday. Fiserv, Inc. has a 1 year low of $146.46 and a 1 year high of $238.59. The firm’s fifty day simple moving average is $174.80 and its 200 day simple moving average is $200.95. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $94.55 billion, a PE ratio of 30.13, a PEG ratio of 1.07 and a beta of 0.90.

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. 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 the consensus estimate of $4.86 billion. During the same period in the prior year, the firm earned $1.88 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

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.