Fiserv, Inc. (NYSE:FI) Holdings Decreased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,292 shares of the business services provider’s stock after selling 132 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Fiserv were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its holdings in shares of Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after purchasing an additional 44 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock valued at $794,000 after buying an additional 44 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares during the period. Hemington Wealth Management raised its stake in Fiserv by 6.1% during the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after acquiring an additional 50 shares during the period. Finally, Pointe Capital Management LLC lifted its holdings in Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider’s stock worth $649,000 after acquiring an additional 56 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE FI opened at $167.01 on Tuesday. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The firm has a market cap of $92.59 billion, a P/E ratio of 30.98, a PEG ratio of 1.52 and a beta of 0.90. The stock has a fifty day moving average price of $184.35 and a two-hundred day moving average price of $204.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. 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 authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on FI shares. Morgan Stanley reaffirmed an “overweight” rating and set a $268.00 target price (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. Mizuho set a $200.00 price objective on Fiserv in a research report on Thursday, May 15th. Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, BMO Capital Markets reduced their price target 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. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.27.

Insider Buying and Selling at Fiserv

In other news, 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 transaction of $403,628.16. Following the completion of the sale, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm’s 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 sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

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.