Bank of New York Mellon Corp Cuts Position in Fiserv, Inc. (NYSE:FI)

Bank of New York Mellon Corp decreased its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,675,034 shares of the business services provider's stock after selling 36,038 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Fiserv worth $811,558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Fiserv by 91.9% in the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after purchasing an additional 2,033 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Fiserv during the 4th quarter valued at approximately $349,000. Proficio Capital Partners LLC boosted its stake in shares of Fiserv by 48.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider's stock valued at $485,000 after purchasing an additional 775 shares during the last quarter. Inceptionr LLC bought a new stake in Fiserv during the fourth quarter valued at $723,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at about $281,000. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of Fiserv stock traded down $2.14 during trading hours on Monday, reaching $173.41. 2,964,194 shares of the stock traded hands, compared to its average volume of 3,358,008. The company has a 50 day moving average price of $170.83 and a 200 day moving average price of $199.45. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $96.14 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.08 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. On average, equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FI shares. Susquehanna reduced their target price on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Monness Crespi & Hardt lowered shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a research note on Wednesday, April 9th. Robert W. Baird decreased their target price on shares of Fiserv from $250.00 to $225.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Tigress Financial boosted their price objective on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Citigroup cut their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.

Insider Transactions at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated 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 directly owned 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business'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 value of $403,628.16. Following the completion of the transaction, the insider directly owned 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. Corporate insiders own 0.75% of the company's stock.

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.