Mountain Pacific Investment Advisers LLC Decreases Position in Fiserv, Inc. (NYSE:FI)

Mountain Pacific Investment Advisers LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 437,504 shares of the business services provider’s stock after selling 16,768 shares during the quarter. Fiserv makes up about 7.2% of Mountain Pacific Investment Advisers LLC’s portfolio, making the stock its largest position. Mountain Pacific Investment Advisers LLC’s holdings in Fiserv were worth $96,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Fiserv in the 4th quarter valued at about $1,406,452,000. GAMMA Investing LLC increased its stake in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock valued at $843,991,000 after purchasing an additional 3,804,358 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Fiserv in the fourth quarter valued at approximately $614,982,000. Kovitz Investment Group Partners LLC boosted its position in shares of Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after purchasing an additional 2,174,025 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Fiserv by 65.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 3.1%

FI stock opened at $162.79 on Monday. The company has a market cap of $90.26 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59. The business has a 50 day moving average price of $181.52 and a two-hundred day moving average price of $203.45. 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 released 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 net margin of 15.31% and a return on equity of 17.93%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. Analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on FI. Barclays dropped their price objective on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Piper Sandler set a $218.00 price target on Fiserv in a research report on Friday, April 25th. Tigress Financial lifted their price objective on Fiserv from $244.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 29th. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Finally, Truist Financial assumed coverage on shares of Fiserv in a research note on Monday, June 2nd. They issued a “buy” rating and a $181.00 price target on the stock. Two investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.27.

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction 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. The trade was a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

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.