Romano Brothers AND Company Has $16.16 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Romano Brothers AND Company lowered its stake in Fiserv, Inc. (NYSE:FI) by 1.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,190 shares of the business services provider’s stock after selling 737 shares during the period. Fiserv accounts for about 2.1% of Romano Brothers AND Company’s holdings, making the stock its 8th largest holding. Romano Brothers AND Company’s holdings in Fiserv were worth $16,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Vega Investment Solutions purchased a new stake in shares of Fiserv during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new position in Fiserv in the fourth quarter worth about $28,000. Valley National Advisers Inc. purchased a new position in Fiserv in the fourth quarter worth about $29,000. Marshall Investment Management LLC purchased a new position in Fiserv in the fourth quarter worth about $29,000. Finally, Compass Financial Services Inc purchased a new position in shares of Fiserv in the fourth quarter worth approximately $31,000. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Redburn Atlantic reiterated a “sell” rating and issued a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research note on Friday, April 25th. Wall Street Zen assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Finally, Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Price Performance

Shares of NYSE FI opened at $161.87 on Tuesday. The business’s 50 day moving average price is $189.93 and its 200 day moving average price is $206.78. The firm has a market cap of $89.75 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.52 and a beta of 0.97. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data 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 return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has approved a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm’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 completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This trade represents 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.

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.