Brighton Jones LLC Raises Position in Fiserv, Inc. (NYSE:FI)

Brighton Jones LLC raised its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 159.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,006 shares of the business services provider's stock after acquiring an additional 6,761 shares during the quarter. Brighton Jones LLC's holdings in Fiserv were worth $2,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its position in Fiserv by 0.4% during the 4th 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 period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after purchasing an additional 44 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Fiserv by 1.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Pointe Capital Management LLC boosted its position in shares of Fiserv by 1.8% in the 4th quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock worth $649,000 after purchasing an additional 56 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in shares of Fiserv by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 4,046 shares of the business services provider's stock worth $831,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 sale, the insider now owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Susquehanna lowered their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. BMO Capital Markets reduced their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, one has issued 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Price Performance

Shares of Fiserv stock opened at $162.79 on Monday. The stock has a market cap of $90.26 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock's fifty day moving average is $181.52 and its 200 day moving average is $203.45. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has approved 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Fiserv Company 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.

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