Nixon Peabody Trust Co. Sells 92 Shares of Fiserv, Inc. (NYSE:FI)

Nixon Peabody Trust Co. lowered its position in Fiserv, Inc. (NYSE:FI) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,916 shares of the business services provider’s stock after selling 92 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Fiserv were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FI. LaFleur & Godfrey LLC boosted its stake in Fiserv by 0.4% in the fourth 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 in the last quarter. Brighton Jones LLC boosted its stake in Fiserv by 91.9% in the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after buying an additional 2,033 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Fiserv in the fourth quarter worth approximately $11,330,000. Journey Strategic Wealth LLC boosted its stake in Fiserv by 4.2% in the fourth quarter. Journey Strategic Wealth LLC now owns 1,425 shares of the business services provider’s stock worth $293,000 after buying an additional 58 shares in the last quarter. Finally, Valley National Advisers Inc. purchased a new stake in Fiserv in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction 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 owns 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction on Tuesday, May 27th. The stock was 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 approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Performance

Shares of FI stock opened at $162.15 on Wednesday. The stock has a fifty day moving average of $188.79 and a 200 day moving average of $206.47. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The firm has a market capitalization of $89.90 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.52 and a beta of 0.91. 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 (NYSE:FI) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 earnings per share. As a group, research 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 stock repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial assumed coverage on Fiserv in a research note on Monday. They issued a “buy” rating and a $181.00 target price for the company. Mizuho set a $200.00 price objective on Fiserv in a research note on Thursday, May 15th. BMO Capital Markets dropped their price objective on Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Barclays dropped their price objective on Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, UBS Group dropped their price objective on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $220.27.

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.