Annis Gardner Whiting Capital Advisors LLC Sells 5,094 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Annis Gardner Whiting Capital Advisors LLC significantly reduced its stake in Fiserv, Inc. by 69.5% during the first quarter, leaving them with shares valued at approximately $494,000.
• Wall Street analysts have mixed views on Fiserv, with a majority holding a "buy" rating and a consensus price target of $207.08, though several firms have lowered their price objectives recently.
• Fiserv reported earnings that exceeded analysts' expectations, with $2.47 earnings per share for the quarter, marking an 8% year-over-year revenue growth.

Annis Gardner Whiting Capital Advisors LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238 shares of the business services provider's stock after selling 5,094 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in Fiserv were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FI. iA Global Asset Management Inc. boosted its position in Fiserv by 7.5% during the first quarter. iA Global Asset Management Inc. now owns 76,239 shares of the business services provider's stock valued at $16,836,000 after buying an additional 5,322 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Fiserv by 9.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,244 shares of the business services provider's stock worth $496,000 after buying an additional 187 shares in the last quarter. New Age Alpha Advisors LLC increased its holdings in Fiserv by 78.4% in the 1st quarter. New Age Alpha Advisors LLC now owns 31,178 shares of the business services provider's stock worth $6,885,000 after buying an additional 13,706 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Fiserv by 1.3% during the first quarter. Thoroughbred Financial Services LLC now owns 13,740 shares of the business services provider's stock valued at $3,034,000 after acquiring an additional 170 shares during the last quarter. Finally, ROI Financial Advisors LLC bought a new stake in Fiserv during the first quarter valued at approximately $215,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Buying and Selling

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction 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 directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated 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 sale, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Trading Up 0.3%

Shares of NYSE:FI traded up $0.40 during midday trading on Friday, hitting $133.10. 3,927,627 shares of the stock were exchanged, compared to its average volume of 7,009,811. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.86 and a beta of 0.91. The business's 50-day moving average price is $159.99 and its 200 day moving average price is $190.21.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Tigress Financial raised their price objective on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Barclays set a $175.00 target price on shares of Fiserv and gave the company an "overweight" rating in a research note on Monday, July 28th. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group reduced their price target on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Truist Financial increased their price objective on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $207.08.

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.