Fiserv, Inc. (NYSE:FI) Stock Position Cut by Alta Capital Management LLC

Alta Capital Management LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 12.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,866 shares of the business services provider’s stock after selling 38,576 shares during the quarter. Fiserv makes up approximately 3.7% of Alta Capital Management LLC’s holdings, making the stock its 7th largest holding. Alta Capital Management LLC’s holdings in Fiserv were worth $57,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jacobi Capital Management LLC boosted its position in Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in 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 purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust boosted its position in Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 45 shares during the period. Adero Partners LLC boosted its position in Fiserv by 2.3% during the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 55 shares during the period. Finally, Pointe Capital Management LLC boosted its position in Fiserv by 1.8% during the 4th quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 56 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FI. Barclays reduced their price objective on Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Monness Crespi & Hardt lowered Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price objective for the company. in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Piper Sandler set a $218.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, Wall Street Zen began coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating for the company. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.23.

Fiserv Trading Down 1.4%

Shares of Fiserv stock opened at $161.19 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a market cap of $89.37 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90. The business has a fifty day simple moving average of $178.13 and a 200-day simple moving average of $202.10. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last announced its quarterly earnings data 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 analyst estimates of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of the business’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 sale, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.