Ellenbecker Investment Group Sells 163 Shares of Fiserv, Inc. (NYSE:FI)

Ellenbecker Investment Group lowered its stake in Fiserv, Inc. (NYSE:FI) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,796 shares of the business services provider’s stock after selling 163 shares during the quarter. Fiserv accounts for approximately 0.7% of Ellenbecker Investment Group’s portfolio, making the stock its 16th largest position. Ellenbecker Investment Group’s holdings in Fiserv were worth $3,930,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Fiserv in the 4th quarter valued at $257,000. Principal Financial Group Inc. grew its position in Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock valued at $190,875,000 after purchasing an additional 7,183 shares during the period. Centricity Wealth Management LLC acquired a new stake in Fiserv in the 4th quarter valued at $79,000. American National Bank & Trust grew its position in Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock valued at $18,956,000 after purchasing an additional 1,983 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in Fiserv by 20.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock valued at $1,574,000 after purchasing an additional 1,288 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of the firm’s 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 sale, the insider now owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Wall Street Zen assumed coverage on shares of Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Barclays cut their price objective on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Monness Crespi & Hardt downgraded shares of Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price objective on the stock. in a report on Wednesday, April 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $268.00 price objective (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Stock Up 1.2%

Shares of FI opened at $168.89 on Wednesday. The firm has a market cap of $93.64 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.52 and a beta of 0.90. The stock has a 50 day simple moving average of $183.39 and a two-hundred day simple moving average of $204.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.