Agate Pass Investment Management LLC Sells 1,452 Shares of Fiserv, Inc. (NYSE:FI)

Agate Pass Investment Management LLC reduced its holdings in Fiserv, Inc. (NYSE:FI) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,939 shares of the business services provider’s stock after selling 1,452 shares during the period. Fiserv makes up about 1.9% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Agate Pass Investment Management LLC’s holdings in Fiserv were worth $4,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FI. LaFleur & Godfrey LLC grew its position in shares of Fiserv by 0.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider’s stock worth $3,721,000 after buying an additional 75 shares during the period. Brighton Jones LLC raised its position in shares of Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock valued at $872,000 after acquiring an additional 2,033 shares during the period. Union Bancaire Privee UBP SA bought a new position in Fiserv during the 4th quarter worth approximately $11,330,000. Perigon Wealth Management LLC grew its holdings in Fiserv by 12.1% during the fourth quarter. Perigon Wealth Management LLC now owns 3,566 shares of the business services provider’s stock valued at $736,000 after purchasing an additional 384 shares during the period. Finally, R Squared Ltd acquired a new position in Fiserv during the fourth quarter valued at approximately $146,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FI. Redburn Atlantic reiterated a “sell” rating and issued a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research note on Wednesday, April 9th. The Goldman Sachs Group reduced their target price on Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Citigroup decreased their target price on Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Stephens increased their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

Fiserv Stock Performance

Shares of FI opened at $159.33 on Friday. The stock has a market capitalization of $88.34 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The firm has a fifty day simple moving average of $192.34 and a 200 day simple moving average of $207.55. 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 (NYSE:FI) last issued its quarterly 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 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares in the company, 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 SEC, which is available at this link. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred 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 approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

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.