Lee Danner & Bass Inc. Sells 575 Shares of Fiserv, Inc. (NYSE:FI)

Lee Danner & Bass Inc. cut its stake in Fiserv, Inc. (NYSE:FI) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,835 shares of the business services provider’s stock after selling 575 shares during the quarter. Fiserv comprises about 1.5% of Lee Danner & Bass Inc.’s holdings, making the stock its 13th biggest holding. Lee Danner & Bass Inc.’s holdings in Fiserv were worth $18,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Adell Harriman & Carpenter Inc. raised its holdings in Fiserv by 5.3% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 1,603 shares of the business services provider’s stock worth $354,000 after purchasing an additional 80 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Fiserv by 3.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 12,770 shares of the business services provider’s stock worth $2,820,000 after purchasing an additional 459 shares in the last quarter. Simmons Bank raised its holdings in Fiserv by 13.1% in the 1st quarter. Simmons Bank now owns 3,111 shares of the business services provider’s stock worth $687,000 after purchasing an additional 360 shares in the last quarter. World Investment Advisors raised its holdings in Fiserv by 15.1% in the 1st quarter. World Investment Advisors now owns 72,445 shares of the business services provider’s stock worth $15,998,000 after purchasing an additional 9,526 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Fiserv by 2.0% in the 1st quarter. Truist Financial Corp now owns 263,782 shares of the business services provider’s stock worth $58,251,000 after purchasing an additional 5,160 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the firm’s 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 sale, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Fiserv Stock Up 1.8%

NYSE:FI opened at $175.55 on Friday. The firm has a market cap of $97.33 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.08 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The firm has a 50-day simple moving average of $170.83 and a two-hundred day simple moving average of $199.47.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

FI has been the subject of several research reports. Truist Financial started coverage on shares of Fiserv in a research note on Monday, June 2nd. They issued a “buy” rating and a $181.00 price target for the company. Royal Bank Of Canada set a $237.00 price target on shares of Fiserv in a research note on Friday, April 25th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. BMO Capital Markets decreased their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen started coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.23.

About Fiserv

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.