Birch Hill Investment Advisors LLC Sells 38,673 Shares of Fiserv, Inc. (NYSE:FI)

Birch Hill Investment Advisors LLC lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 532,468 shares of the business services provider’s stock after selling 38,673 shares during the period. Fiserv accounts for 5.6% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 2nd largest holding. Birch Hill Investment Advisors LLC’s holdings in Fiserv were worth $117,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC grew its holdings in Fiserv by 104.0% during the first quarter. Global Trust Asset Management LLC now owns 1,236 shares of the business services provider’s stock valued at $273,000 after purchasing an additional 630 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Fiserv by 22.6% in the first quarter. Insigneo Advisory Services LLC now owns 4,188 shares of the business services provider’s stock worth $925,000 after acquiring an additional 772 shares during the last quarter. NBT Bank N A NY grew its stake in shares of Fiserv by 8.3% in the first quarter. NBT Bank N A NY now owns 8,284 shares of the business services provider’s stock worth $1,829,000 after acquiring an additional 635 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Fiserv by 69.5% in the first quarter. Chicago Capital LLC now owns 14,169 shares of the business services provider’s stock worth $3,129,000 after acquiring an additional 5,809 shares during the last quarter. Finally, Patton Fund Management Inc. acquired a new stake in shares of Fiserv in the first quarter worth $2,998,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 1.2%

NYSE FI opened at $164.94 on Tuesday. The stock has a market capitalization of $91.45 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.52 and a beta of 0.90. The stock’s 50 day moving average price is $180.92 and its two-hundred day moving average price is $203.05. 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, Inc. has a 52 week low of $146.46 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS. As a group, analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has authorized a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FI shares. Morgan Stanley restated an “overweight” rating and issued a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Barclays lowered their price objective on Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Jefferies Financial Group lowered their price objective on Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Susquehanna lowered their price objective on Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.27.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the business’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 transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction that occurred 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. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.