Chesley Taft & Associates LLC Sells 1,862 Shares of Fiserv, Inc. (NYSE:FI)

Chesley Taft & Associates LLC decreased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,825 shares of the business services provider's stock after selling 1,862 shares during the quarter. Chesley Taft & Associates LLC's holdings in Fiserv were worth $12,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC acquired a new position in Fiserv during the fourth quarter worth $257,000. Principal Financial Group Inc. increased its holdings in shares of Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock worth $190,875,000 after purchasing an additional 7,183 shares during the period. Centricity Wealth Management LLC bought a new stake in Fiserv during the fourth quarter worth about $79,000. American National Bank & Trust lifted its position in Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after purchasing an additional 1,983 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its position in Fiserv by 20.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider's stock worth $1,574,000 after purchasing an additional 1,288 shares during the period. Institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FI shares. Jefferies Financial Group dropped their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a research report on Wednesday, April 9th. Barclays cut their target price on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Susquehanna dropped their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Finally, Redburn Atlantic restated a "sell" rating and set a $150.00 price objective on shares of Fiserv in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has a consensus rating of "Moderate Buy" and an average price target of $220.27.

Fiserv Stock Performance

NYSE FI traded up $1.52 during trading hours on Friday, hitting $166.90. 4,271,508 shares of the company's stock traded hands, compared to its average volume of 3,243,016. The business's fifty day moving average price is $185.54 and its two-hundred day moving average price is $205.35. 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 firm has a market capitalization of $92.54 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

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 the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Insider Transactions at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction 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 owns 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% 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, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction 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 sale, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

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.