Fiserv, Inc. (NYSE:FI) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 27.2% during the first quarter, HoldingsChannel.com reports. The fund owned 1,867 shares of the business services provider’s stock after selling 697 shares during the period. Trust Point Inc.’s holdings in Fiserv were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock valued at $2,435,280,000 after acquiring an additional 218,833 shares during the period. FMR LLC increased its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock valued at $1,649,705,000 after acquiring an additional 1,121,597 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Fiserv by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock valued at $1,424,907,000 after acquiring an additional 340,938 shares during the period. Finally, Norges Bank acquired a new position in shares of Fiserv in the 4th quarter valued at $1,406,452,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FI has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Redburn Atlantic restated a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Barclays reduced their target price on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Tigress Financial raised their target price on shares of Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.27.

Fiserv Stock Performance

Shares of FI opened at $164.94 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $180.92 and a 200-day simple moving average of $203.05. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59. The company has a market capitalization of $91.45 billion, a PE ratio of 30.60, a P/E/G ratio of 1.52 and a beta of 0.90.

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

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.