Cortland Associates Inc. MO Sells 44,911 Shares of Fiserv, Inc. (NYSE:FI)

Cortland Associates Inc. MO decreased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,470 shares of the business services provider's stock after selling 44,911 shares during the period. Fiserv comprises approximately 8.0% of Cortland Associates Inc. MO's investment portfolio, making the stock its 3rd largest holding. Cortland Associates Inc. MO owned approximately 0.05% of Fiserv worth $66,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FI. Vega Investment Solutions purchased a new stake in shares of Fiserv during the fourth quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at about $28,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the fourth quarter valued at about $37,000. Abound Financial LLC purchased a new stake in shares of Fiserv in the first quarter valued at about $38,000. Finally, Quarry LP grew its holdings in shares of Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 2.6%

Shares of FI traded down $4.49 during mid-day trading on Friday, hitting $165.21. 6,293,974 shares of the company's stock were exchanged, compared to its average volume of 3,396,508. The stock's 50-day moving average is $169.52 and its 200-day moving average is $198.19. The company has a market cap of $91.60 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 1.01 and a beta of 0.91. Fiserv, Inc. has a fifty-two week low of $153.77 and a fifty-two week high of $238.59. 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 (NYSE:FI - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. On average, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider owned 53,385 shares of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FI. Redburn Atlantic reissued a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Morgan Stanley reissued an "overweight" rating and issued a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Barclays lowered their target price on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. UBS Group lowered their target price on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their target price on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.23.

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.