Perennial Advisors LLC Has $16.10 Million Stake in Fiserv, Inc. (NYSE:FI)

Perennial Advisors LLC lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,890 shares of the business services provider's stock after selling 1,945 shares during the quarter. Fiserv comprises approximately 3.2% of Perennial Advisors LLC's holdings, making the stock its 5th largest holding. Perennial Advisors LLC's holdings in Fiserv were worth $16,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC increased its stake in Fiserv by 7.9% in the first quarter. Sivia Capital Partners LLC now owns 1,814 shares of the business services provider's stock valued at $401,000 after purchasing an additional 133 shares in the last quarter. AAFMAA Wealth Management & Trust LLC grew its holdings in shares of Fiserv by 8.6% in the 1st quarter. AAFMAA Wealth Management & Trust LLC now owns 7,214 shares of the business services provider's stock valued at $1,593,000 after buying an additional 573 shares during the period. Alliance Wealth Advisors LLC bought a new stake in shares of Fiserv in the 1st quarter valued at $205,000. Pines Wealth Management LLC acquired a new stake in Fiserv during the 1st quarter worth $367,000. Finally, Unique Wealth LLC lifted its holdings in Fiserv by 26.5% during the first quarter. Unique Wealth LLC now owns 16,137 shares of the business services provider's stock worth $3,564,000 after acquiring an additional 3,384 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FI has been the topic of a number of research analyst reports. Tigress Financial raised their price target on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Citigroup reduced their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Jefferies Financial Group cut their price target on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $220.27.

Fiserv Stock Performance

Shares of NYSE:FI traded up $0.30 on Monday, hitting $167.01. The company had a trading volume of 4,373,115 shares, compared to its average volume of 3,247,536. The stock has a market cap of $92.59 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 1.52 and a beta of 0.90. The stock has a 50 day moving average price of $185.54 and a 200 day moving average price of $205.35. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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 for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the prior year, the firm earned $1.88 EPS. The business's revenue was up 5.1% on a year-over-year basis. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the business'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 value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 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.