Alta Capital Management LLC Sells 38,576 Shares of Fiserv, Inc. (NYSE:FI)

Alta Capital Management LLC cut its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,866 shares of the business services provider's stock after selling 38,576 shares during the quarter. Fiserv accounts for about 3.7% of Alta Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Alta Capital Management LLC's holdings in Fiserv were worth $57,386,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its stake in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock worth $2,281,000 after purchasing an additional 44 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after purchasing an additional 44 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after purchasing an additional 45 shares during the last quarter. Adero Partners LLC lifted its stake in Fiserv by 2.3% during the first quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock worth $550,000 after purchasing an additional 55 shares during the last quarter. Finally, Pointe Capital Management LLC lifted its stake in Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock valued at $649,000 after buying an additional 56 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

Fiserv stock traded up $1.61 during mid-day trading on Friday, hitting $162.97. The company's stock had a trading volume of 8,513,492 shares, compared to its average volume of 3,304,542. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $90.36 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.00 and a beta of 0.90. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59. The stock's fifty day moving average price is $177.23 and its two-hundred day moving average price is $201.73.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. Research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insiders Place Their Bets

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. UBS Group cut their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Citigroup dropped their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock. Finally, Monness Crespi & Hardt lowered shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target on the stock. in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of "Moderate Buy" and an average price target of $221.23.

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.