Provident Trust Co. Lowers Holdings in Fiserv, Inc. (NYSE:FI)

Provident Trust Co. decreased its position in Fiserv, Inc. (NYSE:FI - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,271,920 shares of the business services provider's stock after selling 6,169 shares during the period. Fiserv accounts for 5.2% of Provident Trust Co.'s investment portfolio, making the stock its 11th biggest holding. Provident Trust Co. owned 0.23% of Fiserv worth $280,878,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FI. Vega Investment Solutions purchased a new position in shares of Fiserv during the 4th quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in Fiserv in the 4th quarter valued at about $28,000. Abound Financial LLC purchased a new stake in Fiserv during the first quarter valued at about $38,000. Quarry LP boosted its position in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Fiserv in the fourth quarter worth about $54,000. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FI has been the subject of several analyst reports. The Goldman Sachs Group cut their price objective on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Robert W. Baird cut their price target on Fiserv from $250.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday, June 18th. Jefferies Financial Group dropped their price objective on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Barclays reduced their target price on Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen started coverage on Fiserv in a research report on Sunday, March 23rd. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.

Fiserv Trading Down 1.5%

FI stock traded down $2.47 during trading on Tuesday, hitting $164.53. 4,375,732 shares of the company traded hands, compared to its average volume of 3,409,088. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv, Inc. has a 1 year low of $154.17 and a 1 year high of $238.59. The firm has a market capitalization of $91.22 billion, a PE ratio of 29.07, a P/E/G ratio of 1.01 and a beta of 0.91. The company has a 50-day moving average of $169.15 and a 200-day moving average of $197.82.

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

Insiders Place Their Bets

In related news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider directly owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated 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 directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

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.