Fiserv, Inc. (NYSE:FI) Position Increased by Sky Investment Group LLC

Sky Investment Group LLC raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 21.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,969 shares of the business services provider’s stock after purchasing an additional 861 shares during the quarter. Sky Investment Group LLC’s holdings in Fiserv were worth $1,097,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Fiserv during the fourth quarter worth approximately $257,000. Principal Financial Group Inc. lifted its position in shares of Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock valued at $190,875,000 after acquiring an additional 7,183 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at approximately $79,000. American National Bank & Trust lifted its position in shares of Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock valued at $18,956,000 after acquiring an additional 1,983 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Fiserv by 20.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock valued at $1,574,000 after acquiring an additional 1,288 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Down 0.1%

Fiserv stock opened at $167.95 on Friday. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The firm’s fifty day simple moving average is $182.17 and its 200-day simple moving average is $204.09. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $93.12 billion, a P/E ratio of 31.16, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. 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 business posted $1.88 EPS. Fiserv’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FI. Jefferies Financial Group reduced their price target on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. BMO Capital Markets reduced their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Citigroup reduced their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Susquehanna reduced their price target on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reduced their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $220.27.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, 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 SEC, which is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 53,385 shares in the company, valued at $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 currently owned by company 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.