Fiserv, Inc. (NYSE:FI) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,138 shares of the business services provider's stock after selling 2,952 shares during the quarter. Exchange Traded Concepts LLC's holdings in Fiserv were worth $2,239,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FI. Geode Capital Management LLC boosted its holdings in Fiserv by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after acquiring an additional 218,833 shares during the period. FMR LLC lifted its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after purchasing an additional 1,121,597 shares during the period. Nuveen Asset Management LLC increased its position in Fiserv by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Finally, Norges Bank bought a new position in Fiserv during the 4th quarter valued at approximately $1,406,452,000. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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. The trade was 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.

Wall Street Analyst Weigh In

A number of research firms have commented on FI. Piper Sandler set a $218.00 target price on Fiserv in a report on Friday, April 25th. BMO Capital Markets lowered their target price on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price on the stock. in a research report on Wednesday, April 9th. Susquehanna lowered their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Finally, UBS Group lowered their price objective on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $221.23.

Fiserv Trading Down 1.4%

Shares of FI stock traded down $2.25 during trading hours on Thursday, reaching $161.19. 5,640,817 shares of the stock were exchanged, compared to its average volume of 3,281,100. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The company's 50-day moving average price is $178.99 and its 200-day moving average price is $202.49. The firm has a market capitalization of $89.37 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90.

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

Fiserv announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Fiserv 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.