Pflug Koory LLC Sells 73 Shares of Fiserv, Inc. (NYSE:FI)

Pflug Koory LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,092 shares of the business services provider’s stock after selling 73 shares during the period. Fiserv comprises 1.0% of Pflug Koory LLC’s portfolio, making the stock its 24th biggest holding. Pflug Koory LLC’s holdings in Fiserv were worth $1,787,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FI. Norges Bank bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $1,406,452,000. GAMMA Investing LLC lifted its position in shares of Fiserv by 21,681.0% during the 1st quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after buying an additional 3,804,358 shares during the period. Raymond James Financial Inc. bought a new position in shares of Fiserv during the 4th quarter worth approximately $614,982,000. Kovitz Investment Group Partners LLC lifted its position in shares of Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after buying an additional 2,174,025 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after buying an additional 2,153,554 shares during the period. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Down 3.1%

NYSE FI opened at $162.79 on Monday. The stock has a fifty day moving average of $181.52 and a 200-day moving average of $203.45. The stock has a market capitalization of $90.26 billion, a P/E 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. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

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 the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $1.88 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has authorized a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

FI has been the subject of several analyst reports. Mizuho set a $200.00 target price on Fiserv in a research report on Thursday, May 15th. The Goldman Sachs Group cut their target price on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their target price on Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Wall Street Zen initiated coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Monness Crespi & Hardt downgraded Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.27.

Insider Transactions at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

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.