Fiserv, Inc. (NYSE:FI) Position Decreased by Coerente Capital Management

Coerente Capital Management reduced its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 151,654 shares of the business services provider's stock after selling 1,798 shares during the quarter. Fiserv makes up approximately 6.5% of Coerente Capital Management's investment portfolio, making the stock its 3rd biggest position. Coerente Capital Management's holdings in Fiserv were worth $33,490,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Fiserv in the 4th quarter worth $257,000. Principal Financial Group Inc. increased its stake in Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock worth $190,875,000 after buying an additional 7,183 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Fiserv in the 4th quarter worth $79,000. American National Bank & Trust increased its stake in Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after buying an additional 1,983 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake 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 worth $1,574,000 after buying an additional 1,288 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Down 0.1%

FI stock traded down $0.12 during trading on Thursday, hitting $167.95. 2,348,584 shares of the company's stock traded hands, compared to its average volume of 3,256,416. The firm has a market capitalization of $93.12 billion, a P/E ratio of 31.16, a PEG ratio of 1.52 and a beta of 0.90. The business has a fifty day simple moving average of $182.77 and a two-hundred day simple moving average of $204.46. 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, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data 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 for 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%. Fiserv's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction 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 completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at $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. 0.74% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group cut their price objective on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Truist Financial began coverage on Fiserv in a research report on Monday, June 2nd. They set a "buy" rating and a $181.00 price objective for the company. Royal Bank of Canada set a $237.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, Morgan Stanley restated an "overweight" rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Two 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.27.

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.