Fairvoy Private Wealth LLC Lowers Holdings in Fiserv, Inc. (NYSE:FI)

Fairvoy Private Wealth LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,886 shares of the business services provider's stock after selling 5,861 shares during the period. Fiserv accounts for about 1.4% of Fairvoy Private Wealth LLC's investment portfolio, making the stock its 17th largest position. Fairvoy Private Wealth LLC's holdings in Fiserv were worth $5,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FI. Root Financial Partners LLC purchased a new stake in shares of Fiserv in the fourth quarter worth about $257,000. Principal Financial Group Inc. grew its stake in Fiserv by 0.8% during 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 during the last quarter. Centricity Wealth Management LLC bought a new position in Fiserv in the 4th quarter worth about $79,000. American National Bank & Trust raised its stake in shares of Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after purchasing an additional 1,983 shares in the last quarter. Finally, bLong Financial LLC bought a new stake in Fiserv during the fourth quarter worth approximately $265,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FI has been the topic of a number of recent analyst reports. Redburn Atlantic restated a "sell" rating and set a $150.00 price target on shares of Fiserv in a report on Thursday, April 17th. Wall Street Zen initiated coverage on shares of Fiserv in a research report on Sunday, March 23rd. They set a "buy" rating on the stock. Truist Financial began coverage on shares of Fiserv in a research report on Monday, June 2nd. They issued a "buy" rating and a $181.00 price target on the stock. Royal Bank Of Canada set a $237.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, Tigress Financial increased 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. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and a consensus target price of $221.23.

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company'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 transaction of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the 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 owns 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% 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 Stock Performance

Shares of NYSE FI traded down $2.25 during trading on Wednesday, reaching $161.19. 5,640,792 shares of the stock traded hands, compared to its average volume of 3,277,831. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $89.37 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59. The company has a 50-day moving average of $179.98 and a 200-day moving average of $202.78.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly 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 company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the previous year, the business earned $1.88 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has approved a share buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.