Gateway Investment Advisers LLC Trims Position in Fiserv, Inc. (NYSE:FI)

Gateway Investment Advisers LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,523 shares of the business services provider’s stock after selling 285 shares during the period. Gateway Investment Advisers LLC’s holdings in Fiserv were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FI. Cooper Financial Group increased its position in Fiserv by 3.1% in the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after buying an additional 67 shares in the last quarter. Quent Capital LLC raised its stake in Fiserv by 5.9% during the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after acquiring an additional 68 shares during the period. Manchester Capital Management LLC lifted its holdings in Fiserv by 0.8% during the first quarter. Manchester Capital Management LLC now owns 9,782 shares of the business services provider’s stock valued at $1,563,000 after purchasing an additional 73 shares in the last quarter. BSW Wealth Partners boosted its position in shares of Fiserv by 2.8% in the first quarter. BSW Wealth Partners now owns 2,821 shares of the business services provider’s stock worth $451,000 after purchasing an additional 76 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in shares of Fiserv by 13.7% in the first quarter. Eagle Bay Advisors LLC now owns 656 shares of the business services provider’s stock worth $105,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FI shares. William Blair raised shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Citigroup raised Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. UBS Group increased their price objective on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird boosted their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $24,304,390.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. Insiders have sold 50,800 shares of company stock worth $7,696,448 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.9 %

FI traded up $1.44 during trading hours on Friday, reaching $161.59. 1,576,019 shares of the company’s stock traded hands, compared to its average volume of 2,521,503. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $153.26 and a 200 day moving average price of $151.49. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $165.56. The firm has a market capitalization of $94.55 billion, a PE ratio of 30.20, a PEG ratio of 1.31 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

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.