Fiserv, Inc. (NYSE:FI) Position Reduced by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. trimmed its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,253 shares of the business services provider’s stock after selling 1,250 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Fiserv were worth $17,943,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FI. LaFleur & Godfrey LLC raised its holdings in shares of Fiserv by 0.4% during the fourth quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider’s stock worth $3,721,000 after purchasing an additional 75 shares during the period. Brighton Jones LLC raised 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. Union Bancaire Privee UBP SA acquired a new stake in shares of Fiserv during the fourth quarter worth $11,330,000. Empowered Funds LLC raised its holdings in shares of Fiserv by 12.5% during the fourth quarter. Empowered Funds LLC now owns 10,492 shares of the business services provider’s stock worth $2,155,000 after purchasing an additional 1,164 shares during the period. Finally, Leavell Investment Management Inc. raised its holdings in shares of Fiserv by 21.3% during the fourth quarter. Leavell Investment Management Inc. now owns 3,133 shares of the business services provider’s stock worth $644,000 after purchasing an additional 550 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. Citigroup dropped their target price on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Truist Financial started coverage on shares of Fiserv in a report on Monday, June 2nd. They issued a “buy” rating and a $181.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Price Performance

NYSE FI opened at $162.79 on Friday. The company has a 50 day simple moving average of $181.52 and a 200-day simple moving average of $203.68. 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 firm has a market capitalization of $90.26 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 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.