Chesley Taft & Associates LLC Sells 1,862 Shares of Fiserv, Inc. (NYSE:FI)

Chesley Taft & Associates LLC decreased its stake in Fiserv, Inc. (NYSE:FI) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,825 shares of the business services provider’s stock after selling 1,862 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Fiserv were worth $12,769,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Vega Investment Solutions bought a new position in shares of Fiserv during the fourth quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of Fiserv in the 4th quarter worth about $28,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new position in Fiserv during the 4th quarter valued at about $31,000. Finally, Campbell Capital Management Inc. acquired a new position in Fiserv in the fourth quarter valued at about $37,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Tigress Financial lifted their price objective on Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Piper Sandler set a $218.00 price objective on Fiserv in a research note on Friday, April 25th. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Finally, Monness Crespi & Hardt cut Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $220.27.

Insider Buying and Selling at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of Fiserv 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 owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business’s 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 1.3%

NYSE:FI opened at $164.24 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The firm has a market capitalization of $91.06 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.52 and a beta of 0.91. The business’s 50-day moving average price is $187.75 and its two-hundred day moving average price is $206.18.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the business posted $1.88 EPS. Fiserv’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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.