North Star Asset Management Inc. Lowers Holdings in Fiserv, Inc. (NYSE:FI)

North Star Asset Management Inc. reduced its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,388 shares of the business services provider's stock after selling 8,926 shares during the period. Fiserv comprises about 2.7% of North Star Asset Management Inc.'s holdings, making the stock its 4th largest holding. North Star Asset Management Inc. owned approximately 0.05% of Fiserv worth $60,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FI. Norges Bank purchased a new stake in Fiserv in the 4th quarter worth approximately $1,406,452,000. Raymond James Financial Inc. purchased a new stake in shares of Fiserv during the fourth quarter worth $614,982,000. Kovitz Investment Group Partners LLC raised its stake in shares of Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after purchasing an additional 2,174,025 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the company'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 value of $403,628.16. Following the sale, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.74% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FI. Jefferies Financial Group cut their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research report on Tuesday. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Piper Sandler set a $218.00 target price on Fiserv in a report on Friday, April 25th. The Goldman Sachs Group cut their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, UBS Group cut their price objective on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has a consensus rating of "Moderate Buy" and an average price target of $221.84.

Fiserv Stock Performance

FI traded down $1.47 on Thursday, hitting $159.27. 2,521,956 shares of the stock traded hands, compared to its average volume of 3,111,766. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week 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. The firm has a market capitalization of $88.31 billion, a PE ratio of 29.57, a P/E/G ratio of 1.52 and a beta of 0.97. The business has a fifty day moving average price of $193.59 and a two-hundred day moving average price of $207.93.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Fiserv's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. On average, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a share repurchase plan 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. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.