CCM Investment Advisers LLC Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)

CCM Investment Advisers LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,862 shares of the business services provider's stock after selling 12,432 shares during the quarter. Fiserv accounts for 1.8% of CCM Investment Advisers LLC's holdings, making the stock its 23rd largest position. CCM Investment Advisers LLC's holdings in Fiserv were worth $14,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. LaFleur & Godfrey LLC grew its holdings in Fiserv by 0.4% in the fourth quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider's stock valued at $3,721,000 after purchasing an additional 75 shares during the period. Brighton Jones LLC raised its stake in Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after purchasing an additional 2,033 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Fiserv in the 4th quarter valued at $11,330,000. Empowered Funds LLC raised its position in shares of Fiserv by 12.5% in the fourth quarter. Empowered Funds LLC now owns 10,492 shares of the business services provider's stock valued at $2,155,000 after buying an additional 1,164 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Fiserv by 20.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider's stock valued at $1,574,000 after acquiring an additional 1,288 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FI shares. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price objective on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Susquehanna dropped their target price on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a report on Friday, April 25th. Citigroup cut their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $220.27.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents 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 accessible through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction 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 transaction, the insider now directly 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 disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Fiserv Trading Down 3.1%

Fiserv stock traded down $5.23 during midday trading on Friday, reaching $162.79. 3,499,748 shares of the stock traded hands, compared to its average volume of 3,265,879. The firm 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. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $181.52 and a two-hundred day simple moving average of $203.56. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion for 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%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. Research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.