Fiserv, Inc. (NYSE:FI) is Redmond Asset Management LLC’s 2nd Largest Position

Redmond Asset Management LLC lessened its position in Fiserv, Inc. (NYSE:FI) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 44,126 shares of the business services provider’s stock after selling 111 shares during the quarter. Fiserv accounts for approximately 2.5% of Redmond Asset Management LLC’s holdings, making the stock its 2nd biggest holding. Redmond Asset Management LLC’s holdings in Fiserv were worth $9,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock valued at $872,000 after buying an additional 2,033 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Fiserv during the fourth quarter valued at $817,000. Jump Financial LLC raised its stake in Fiserv by 116.0% during the fourth quarter. Jump Financial LLC now owns 8,148 shares of the business services provider’s stock valued at $1,674,000 after buying an additional 4,375 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in Fiserv by 36.3% during the fourth quarter. Insigneo Advisory Services LLC now owns 3,416 shares of the business services provider’s stock valued at $702,000 after buying an additional 909 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Fiserv by 3.4% during the fourth quarter. NewEdge Advisors LLC now owns 23,917 shares of the business services provider’s stock valued at $4,913,000 after buying an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FI shares. Jefferies Financial Group lowered their price objective on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. UBS Group decreased their price target on Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, July 25th. Stephens decreased their price target on Fiserv from $240.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Monness Crespi & Hardt upgraded Fiserv from a “sell” rating to a “neutral” rating in a research note on Monday, July 21st. Finally, BMO Capital Markets decreased their price target on Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $207.08.

Fiserv Stock Performance

Shares of FI opened at $134.51 on Friday. The stock has a market cap of $73.12 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 0.87 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $157.58 and a two-hundred day simple moving average of $188.12. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. On average, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Transactions at Fiserv

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

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.