Farmers & Merchants Investments Inc. Has $17.94 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Farmers & Merchants Investments Inc. decreased its stake in Fiserv, Inc. (NYSE:FI) by 1.5% during the 1st quarter, HoldingsChannel reports. The fund owned 81,253 shares of the business services provider’s stock after selling 1,250 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Fiserv were worth $17,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Geode Capital Management LLC boosted its stake in Fiserv by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after buying an additional 218,833 shares in the last quarter. FMR LLC lifted its holdings in shares of Fiserv by 22.5% during the fourth 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 lifted its holdings in shares of Fiserv by 16.2% during the fourth 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 lifted its holdings in shares of Fiserv by 5.2% during the fourth 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 bought a new position in shares of Fiserv during the fourth quarter valued at $1,406,452,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the company’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 completion of the transaction, the insider now owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the company’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 of the company’s stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Stock Performance

Shares of FI stock opened at $162.79 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a 50-day moving average of $181.52 and a 200-day moving average of $203.68. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59. The stock has a market cap of $90.26 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the firm earned $1.88 EPS. Fiserv’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FI. Keefe, Bruyette & Woods cut their price objective on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Tigress Financial upped their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Mizuho set a $200.00 price target on shares of Fiserv in a research report on Thursday, May 15th. Redburn Atlantic reiterated a “sell” rating and set a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. Finally, Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research report on Friday, April 25th. Two research 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $220.27.

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.