Bruce G. Allen Investments LLC Has $67,000 Stock Position in Fiserv, Inc. (NYSE:FI)

Bruce G. Allen Investments LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302 shares of the business services provider’s stock after selling 111 shares during the period. Bruce G. Allen Investments LLC’s holdings in Fiserv were worth $67,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Fiserv by 18.6% in the first quarter. Farther Finance Advisors LLC now owns 8,980 shares of the business services provider’s stock valued at $1,994,000 after purchasing an additional 1,411 shares in the last quarter. City Holding Co. grew its stake in shares of Fiserv by 4.0% in the 1st quarter. City Holding Co. now owns 15,308 shares of the business services provider’s stock worth $3,380,000 after acquiring an additional 590 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Fiserv by 26.9% in the 1st quarter. Daymark Wealth Partners LLC now owns 2,007 shares of the business services provider’s stock worth $443,000 after acquiring an additional 426 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Fiserv by 7.7% in the first quarter. Portside Wealth Group LLC now owns 1,735 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 124 shares during the last quarter. Finally, CMH Wealth Management LLC lifted its position in shares of Fiserv by 0.8% during the first quarter. CMH Wealth Management LLC now owns 39,817 shares of the business services provider’s stock valued at $8,793,000 after purchasing an additional 320 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.9%

Fiserv stock opened at $166.90 on Monday. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The firm has a 50 day simple moving average of $185.54 and a 200 day simple moving average of $205.35. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $92.54 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. On average, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FI shares. Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 price objective on shares of Fiserv in a research report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their target price on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Susquehanna decreased their price target on Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Royal Bank of Canada set a $237.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price 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 assigned a hold rating, twenty-three have assigned 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 price target of $220.27.

Insider Buying and Selling at Fiserv

In other news, 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 transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $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. Insiders own 0.74% of the company’s stock.

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.