Contravisory Investment Management Inc. Sells 1,839 Shares of Fiserv, Inc. (NYSE:FI)

Contravisory Investment Management Inc. decreased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 49,016 shares of the business services provider's stock after selling 1,839 shares during the period. Fiserv makes up about 2.3% of Contravisory Investment Management Inc.'s investment portfolio, making the stock its 4th largest position. Contravisory Investment Management Inc.'s holdings in Fiserv were worth $10,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FI. Apella Capital LLC bought a new position in Fiserv during the first quarter worth $264,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Fiserv by 15.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,993 shares of the business services provider's stock worth $1,323,000 after buying an additional 801 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of Fiserv during the 1st quarter valued at about $1,149,000. Rialto Wealth Management LLC raised its stake in Fiserv by 21.0% during the first quarter. Rialto Wealth Management LLC now owns 605 shares of the business services provider's stock worth $134,000 after acquiring an additional 105 shares during the period. Finally, RFG Advisory LLC bought a new position in Fiserv in the first quarter worth about $275,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 sale, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FI shares. Susquehanna reduced their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research report on Friday, April 25th. KeyCorp lifted their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Monness Crespi & Hardt cut shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price for the company. in a research report on Wednesday, April 9th. Wall Street Zen initiated coverage on Fiserv in a research report on Sunday, March 23rd. They set a "buy" rating for the company. Finally, The Goldman Sachs Group decreased their price objective on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Two investment 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 issued a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Stock Up 0.8%

Fiserv stock traded up $1.25 during mid-day trading on Thursday, hitting $165.41. The company's stock had a trading volume of 4,120,017 shares, compared to its average volume of 3,222,284. Fiserv, Inc. has a 52-week low of $146.25 and a 52-week high of $238.59. The company has a market cap of $91.71 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm's 50 day moving average is $187.75 and its 200 day moving average is $206.18.

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 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 analyst estimates of $4.86 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has approved a share buyback program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management 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.