Assenagon Asset Management S.A. Lowers Holdings in Fiserv, Inc. (NYSE:FI)

Assenagon Asset Management S.A. lessened its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 65.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,248 shares of the business services provider's stock after selling 379,581 shares during the period. Assenagon Asset Management S.A.'s holdings in Fiserv were worth $43,337,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Jacobi Capital Management LLC lifted its position in Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock valued at $2,281,000 after acquiring an additional 44 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after acquiring an additional 44 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after acquiring an additional 45 shares during the period. Hemington Wealth Management lifted its position in Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider's stock valued at $177,000 after purchasing an additional 50 shares during the period. Finally, Pointe Capital Management LLC raised its position in Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock worth $649,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 53,385 shares in the company, valued at approximately $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 owned by insiders.

Fiserv Price Performance

NYSE FI traded down $5.23 during trading hours on Friday, reaching $162.79. The company's stock had a trading volume of 3,499,748 shares, compared to its average volume of 3,262,308. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 1 year low of $146.46 and a 1 year high of $238.59. The firm's 50-day moving average price is $182.17 and its 200-day moving average price is $204.09. The company has a market capitalization of $90.26 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets decreased their price objective on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Wall Street Zen started coverage on Fiserv in a research report on Sunday, March 23rd. They set a "buy" rating on the stock. Redburn Atlantic reissued a "sell" rating and set a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 price target (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.