Fiserv, Inc. (NYSE:FI) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 23,324 shares of the business services provider’s stock after selling 482 shares during the period. Fiserv makes up approximately 1.8% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Agate Pass Investment Management LLC’s holdings in Fiserv were worth $3,476,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Meritage Portfolio Management acquired a new stake in shares of Fiserv during the fourth quarter valued at about $995,000. GHP Investment Advisors Inc. acquired a new stake in shares of Fiserv during the fourth quarter valued at about $78,000. Norden Group LLC acquired a new stake in shares of Fiserv during the first quarter valued at about $2,359,000. Eads & Heald Wealth Management acquired a new stake in shares of Fiserv during the fourth quarter valued at about $3,012,000. Finally, BlueSpruce Investments LP acquired a new stake in shares of Fiserv during the fourth quarter valued at about $646,368,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Up 0.8 %

Shares of NYSE:FI traded up $1.36 during trading on Tuesday, hitting $162.46. 2,125,290 shares of the company were exchanged, compared to its average volume of 2,519,508. The stock has a market capitalization of $95.06 billion, a P/E ratio of 30.20, a PEG ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $165.56. The firm’s 50 day moving average price is $153.51 and its 200-day moving average price is $151.72.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts predict that Fiserv, Inc. will post 8.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Fiserv in a report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on shares of Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Fiserv from $169.00 to $176.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group lifted 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, William Blair upgraded shares of Fiserv to a “strong-buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Activity at Fiserv

In related news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,213,329.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. Insiders sold a total of 50,800 shares of company stock worth $7,696,448 in the last 90 days. 0.75% of the stock is owned by insiders.

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.