Thompson Investment Management Inc. Cuts Position in Fiserv, Inc. (NYSE:FI)

Thompson Investment Management Inc. trimmed its stake in shares of Fiserv, Inc. (NYSE:FI) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,940 shares of the business services provider’s stock after selling 4,382 shares during the period. Fiserv comprises about 1.2% of Thompson Investment Management Inc.’s holdings, making the stock its 28th biggest position. Thompson Investment Management Inc.’s holdings in Fiserv were worth $8,158,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FI. Focus Financial Network Inc. raised its position in shares of Fiserv by 4.6% in the first quarter. Focus Financial Network Inc. now owns 9,493 shares of the business services provider’s stock valued at $2,096,000 after buying an additional 414 shares during the last quarter. USA Financial Formulas grew its stake in shares of Fiserv by 23.7% during the 1st quarter. USA Financial Formulas now owns 4,836 shares of the business services provider’s stock valued at $1,068,000 after buying an additional 927 shares during the period. CX Institutional raised its position in shares of Fiserv by 20.9% in the 1st quarter. CX Institutional now owns 59,738 shares of the business services provider’s stock worth $13,192,000 after buying an additional 10,340 shares during the period. Trueblood Wealth Management LLC raised its holdings in shares of Fiserv by 8.5% in the 1st quarter. Trueblood Wealth Management LLC now owns 2,801 shares of the business services provider’s stock worth $619,000 after purchasing an additional 219 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Fiserv by 4.5% in the 1st quarter. Handelsbanken Fonder AB now owns 241,439 shares of the business services provider’s stock valued at $53,317,000 after purchasing an additional 10,427 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. This trade 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 company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. Mizuho set a $200.00 price target on shares of Fiserv in a research report on Thursday, May 15th. Jefferies Financial Group decreased their target price on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods lowered their target price on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Morgan Stanley reissued an “overweight” rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Finally, Royal Bank of Canada set a $237.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $220.27.

Fiserv Price Performance

Shares of FI opened at $168.89 on Wednesday. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a fifty day moving average price of $183.39 and a 200 day moving average price of $204.72. The company has a market cap of $93.64 billion, a P/E ratio of 31.33, a PEG ratio of 1.52 and a beta of 0.90.

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

Fiserv declared that its Board of Directors has initiated a stock repurchase 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 purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.