Deroy & Devereaux Private Investment Counsel Inc. Has $48.75 Million Position in Fiserv, Inc. (NYSE:FI)

Deroy & Devereaux Private Investment Counsel Inc. cut its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,769 shares of the business services provider's stock after selling 3,413 shares during the period. Fiserv comprises about 2.8% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its 2nd largest position. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Fiserv were worth $48,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vega Investment Solutions purchased a new stake in Fiserv in the 4th quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the fourth quarter worth $28,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth about $37,000. Quarry LP lifted its stake in Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, Knuff & Co LLC purchased a new stake in Fiserv during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the 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 directly owned 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 disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Fiserv Stock Performance

Shares of NYSE:FI traded up $3.10 during trading hours on Friday, hitting $175.55. The stock had a trading volume of 2,211,394 shares, compared to its average volume of 3,352,892. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. The stock's fifty day simple moving average is $170.87 and its 200 day simple moving average is $199.68. The firm has a market capitalization of $97.33 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.08 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year 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 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 firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on FI shares. JPMorgan Chase & Co. cut their price target on Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Keefe, Bruyette & Woods reduced 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 target price (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Barclays dropped their price objective on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has a consensus 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.