Fiserv, Inc. (NYSE:FI) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,726 shares of the business services provider's stock after selling 3,538 shares during the period. NorthCrest Asset Manangement LLC's holdings in Fiserv were worth $6,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Fiserv by 1.9% in the fourth 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 buying an additional 218,833 shares in the last quarter. FMR LLC raised its position 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 acquiring an additional 2,126,419 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock worth $1,649,705,000 after purchasing an additional 1,121,597 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Fiserv by 5.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after purchasing an additional 340,938 shares during the last quarter. Finally, Norges Bank acquired a new position in Fiserv in the fourth quarter valued at approximately $1,406,452,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the firm's 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 transaction, the executive vice president now owns 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the 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 approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Fiserv Price Performance

FI stock traded down $5.23 on Friday, reaching $162.79. 3,499,748 shares of the company's stock were exchanged, compared to its average volume of 3,262,312. The stock has a fifty day moving average of $181.52 and a 200-day moving average of $203.68. The firm has a market cap of $90.26 billion, a PE ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59.

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 the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. As a group, equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a research report on Wednesday, April 9th. Barclays reduced their price target on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. UBS Group decreased their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Susquehanna cut their target price 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, Citigroup reduced their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of "Moderate Buy" and a consensus target price of $220.27.

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.