Fiserv, Inc. (NYSE:FI) Shares Sold by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,575 shares of the business services provider's stock after selling 3,449 shares during the quarter. Fiserv makes up approximately 5.3% of Capital Investment Services of America Inc.'s holdings, making the stock its biggest holding. Capital Investment Services of America Inc.'s holdings in Fiserv were worth $52,243,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC boosted its stake in shares of Fiserv by 7.6% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,847 shares of the business services provider's stock valued at $408,000 after purchasing an additional 131 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Fiserv in the 1st quarter valued at about $213,000. CVA Family Office LLC boosted its stake in shares of Fiserv by 2.5% in the 1st quarter. CVA Family Office LLC now owns 2,709 shares of the business services provider's stock valued at $598,000 after purchasing an additional 65 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in shares of Fiserv by 12.8% in the 1st quarter. Everhart Financial Group Inc. now owns 5,284 shares of the business services provider's stock valued at $1,167,000 after purchasing an additional 598 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE bought a new position in shares of Fiserv in the 1st quarter valued at about $10,850,000. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of Fiserv stock traded down $5.23 during trading on Friday, reaching $162.79. The company's stock had a trading volume of 3,499,748 shares, compared to its average volume of 3,265,879. The business's 50-day moving average price is $181.52 and its 200-day moving average price is $203.56. The firm has a market cap of $90.26 billion, a PE ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 52 week low of $146.46 and a 52 week high of $238.59. 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 (NYSE:FI - Get Free Report) last announced 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. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 earnings per share. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FI. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 target price (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Truist Financial initiated coverage on shares of Fiserv in a report on Monday, June 2nd. They set a "buy" rating and a $181.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price 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. Piper Sandler set a $218.00 target price on shares of Fiserv in a report on Friday, April 25th. Finally, Susquehanna dropped their target price on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $220.27.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction dated 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 now owns 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated 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 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 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.