Cornerstone Investment Partners LLC Sells 108,710 Shares of Fiserv, Inc. (NYSE:FI)

Cornerstone Investment Partners LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 21.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,485 shares of the business services provider's stock after selling 108,710 shares during the quarter. Fiserv accounts for approximately 4.2% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 5th largest position. Cornerstone Investment Partners LLC owned approximately 0.07% of Fiserv worth $86,672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after buying an additional 2,033 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Fiserv by 48.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider's stock valued at $485,000 after acquiring an additional 775 shares during the period. AlphaQuest LLC boosted its stake in Fiserv by 120.9% in the 4th quarter. AlphaQuest LLC now owns 1,610 shares of the business services provider's stock worth $331,000 after purchasing an additional 881 shares during the period. Johnson Investment Counsel Inc. grew its position in Fiserv by 4.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 9,811 shares of the business services provider's stock worth $2,015,000 after purchasing an additional 414 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in Fiserv by 20.0% during the 4th quarter. Independent Advisor Alliance now owns 11,780 shares of the business services provider's stock valued at $2,420,000 after purchasing an additional 1,966 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on FI. Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. Truist Financial started 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. Citigroup dropped their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Mizuho set a $200.00 price objective on shares of Fiserv in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $221.23.

Fiserv Stock Down 2.6%

Shares of NYSE FI traded down $4.49 during mid-day trading on Friday, reaching $165.21. 6,293,974 shares of the company traded hands, compared to its average volume of 3,393,552. The company's fifty day moving average is $169.52 and its two-hundred day moving average is $198.27. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv, Inc. has a fifty-two week low of $151.59 and a fifty-two week high of $238.59. The stock has a market cap of $91.60 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the company posted $1.88 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of the firm'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 sale, the insider directly owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president directly owned 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

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.