Patton Albertson Miller Group LLC Has $8.36 Million Holdings in Fiserv, Inc. (NYSE:FI)

Patton Albertson Miller Group LLC lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 20.1% during the first quarter, Holdings Channel.com reports. The firm owned 37,839 shares of the business services provider’s stock after selling 9,532 shares during the quarter. Fiserv makes up 1.2% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 19th biggest holding. Patton Albertson Miller Group LLC’s holdings in Fiserv were worth $8,356,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FI. Brighton Jones LLC lifted its holdings in shares of Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after purchasing an additional 2,033 shares during the period. Proficio Capital Partners LLC raised its stake in Fiserv by 48.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider’s stock worth $485,000 after buying an additional 775 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Fiserv by 22.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 233,329 shares of the business services provider’s stock worth $48,201,000 after buying an additional 42,706 shares during the last quarter. Horizon Investments LLC raised its stake in Fiserv by 1.0% during the fourth quarter. Horizon Investments LLC now owns 7,906 shares of the business services provider’s stock worth $1,624,000 after buying an additional 77 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Fiserv by 17.8% during the fourth quarter. Teacher Retirement System of Texas now owns 182,010 shares of the business services provider’s stock worth $37,388,000 after buying an additional 27,478 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of Fiserv from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, June 18th. Truist Financial increased their price target on Fiserv from $181.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday. Monness Crespi & Hardt lowered Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their target price on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Finally, Susquehanna decreased their target price on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.59.

Insider Buying and Selling

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred 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 directly owned 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the 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 completion of the sale, the executive vice president owned 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Fiserv Stock Up 1.0%

FI opened at $167.30 on Friday. The company’s 50-day moving average price is $168.12 and its two-hundred day moving average price is $197.10. Fiserv, Inc. has a twelve month low of $154.17 and a twelve month high of $238.59. The stock has a market cap of $92.75 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.01 and a beta of 0.91. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02.

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, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm posted $1.88 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv Company 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.