1832 Asset Management L.P. Sells 4,846 Shares of Fiserv, Inc. (NYSE:FI)

1832 Asset Management L.P. reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,025 shares of the business services provider’s stock after selling 4,846 shares during the quarter. 1832 Asset Management L.P.’s holdings in Fiserv were worth $9,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Meritage Portfolio Management bought a new stake in Fiserv in the 4th quarter valued at about $995,000. Piscataqua Savings Bank purchased a new position in shares of Fiserv in the fourth quarter valued at $67,000. GHP Investment Advisors Inc. purchased a new position in Fiserv during the fourth quarter valued at approximately $78,000. Liberty Capital Management Inc. bought a new position in Fiserv in the 4th quarter worth about $7,071,000. Finally, Birch Hill Investment Advisors LLC bought a new stake in shares of Fiserv during the 4th quarter valued at about $84,583,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FI. Wells Fargo & Company boosted their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $154.00 to $175.00 in a research note on Monday, July 22nd. KeyCorp raised their price target on Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fiserv news, 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 sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,800 shares of company stock worth $7,696,448. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI traded up $3.93 during midday trading on Friday, reaching $159.94. 3,345,301 shares of the stock were exchanged, compared to its average volume of 2,515,755. The company has a market capitalization of $93.58 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.30 and a beta of 0.92. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $162.47. The business’s 50-day moving average price is $151.29 and its 200 day moving average price is $149.94. 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 (NYSE:FI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

Fiserv 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.