Eagle Rock Investment Company LLC Reduces Position in Fiserv, Inc. (NYSE:FI)

Eagle Rock Investment Company LLC lessened its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,559 shares of the business services provider's stock after selling 8,445 shares during the quarter. Fiserv makes up approximately 1.6% of Eagle Rock Investment Company LLC's portfolio, making the stock its 17th biggest position. Eagle Rock Investment Company LLC's holdings in Fiserv were worth $9,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Unique Wealth LLC boosted its stake in shares of Fiserv by 26.5% during the first quarter. Unique Wealth LLC now owns 16,137 shares of the business services provider's stock valued at $3,564,000 after purchasing an additional 3,384 shares during the period. Foster Group Inc. purchased a new stake in Fiserv in the first quarter worth $222,000. Breakwater Capital Group lifted its stake in Fiserv by 98.5% in the first quarter. Breakwater Capital Group now owns 2,273 shares of the business services provider's stock worth $502,000 after acquiring an additional 1,128 shares during the period. Retirement Planning Group LLC purchased a new stake in Fiserv in the first quarter worth $225,000. Finally, Salvus Wealth Management LLC lifted its stake in Fiserv by 18.9% in the first quarter. Salvus Wealth Management LLC now owns 18,484 shares of the business services provider's stock worth $4,082,000 after acquiring an additional 2,943 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FI shares. Royal Bank of Canada set a $237.00 price target on Fiserv in a research note on Friday, April 25th. Monness Crespi & Hardt lowered Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a research note on Wednesday, April 9th. Jefferies Financial Group dropped their price target on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. Finally, Citigroup dropped their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $220.27.

Fiserv Price Performance

NYSE FI opened at $166.90 on Friday. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The stock has a 50-day moving average of $185.54 and a 200 day moving average of $205.52. The company has a market capitalization of $92.54 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Fiserv

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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction that occurred 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 owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.75% 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.

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