Schubert & Co Sells 35,795 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Schubert & Co reduced its stake in Fiserv, Inc. by 11.4%, now holding 278,770 shares, which accounts for 42.2% of their portfolio.
• Fiserv reported $2.47 earnings per share for the latest quarter, exceeding analysts' expectations by $0.04, with revenue of $5.20 billion.
• Several analysts have recently adjusted their price targets for Fiserv, with KeyCorp lowering it from $250 to $200, and a consensus rating of "Moderate Buy" with a target of $208.42.

Schubert & Co trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,770 shares of the business services provider's stock after selling 35,795 shares during the quarter. Fiserv makes up approximately 42.2% of Schubert & Co's investment portfolio, making the stock its largest position. Schubert & Co owned approximately 0.05% of Fiserv worth $61,561,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Kestra Private Wealth Services LLC raised its stake in Fiserv by 3.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock valued at $1,743,000 after purchasing an additional 230 shares during the last quarter. American National Bank & Trust raised its stake in Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after purchasing an additional 1,983 shares during the last quarter. Evercore Wealth Management LLC acquired a new position in Fiserv in the 4th quarter valued at $54,981,000. Meridian Wealth Advisors LLC raised its stake in Fiserv by 4.1% in the 1st quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock valued at $5,933,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Beck Mack & Oliver LLC raised its stake in Fiserv by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock valued at $105,463,000 after purchasing an additional 2,589 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Down 0.6%

Shares of FI traded down $0.82 during midday trading on Thursday, hitting $140.03. The company had a trading volume of 2,762,297 shares, compared to its average volume of 4,443,064. The company's 50-day simple moving average is $163.54 and its 200-day simple moving average is $193.65. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $76.12 billion, a P/E ratio of 23.39, a P/E/G ratio of 0.93 and a beta of 0.91. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.04. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Activity

In other 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group reduced their price objective on Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Tigress Financial raised their target price on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Robert W. Baird cut their target price on Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a research note on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price for the company. Finally, Susquehanna cut their target price on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of "Moderate Buy" and an average 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.