Wellington Management Group LLP Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Wellington Management Group LLP lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 14.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 43,307 shares of the business services provider's stock after selling 7,079 shares during the period. Wellington Management Group LLP's holdings in Fiserv were worth $8,896,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FI. LaFleur & Godfrey LLC raised its stake in shares of Fiserv by 0.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider's stock valued at $3,721,000 after buying an additional 75 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after buying an additional 2,033 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Fiserv during the 4th quarter valued at about $11,330,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Fiserv by 5.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,903 shares of the business services provider's stock valued at $3,472,000 after buying an additional 871 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its position in shares of Fiserv by 349.2% during the 4th quarter. Richardson Financial Services Inc. now owns 283 shares of the business services provider's stock valued at $58,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FI. Keefe, Bruyette & Woods dropped their target price on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Jefferies Financial Group dropped their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Monness Crespi & Hardt cut 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. Redburn Atlantic restated a "sell" rating and set a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. Finally, BMO Capital Markets dropped 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. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and a consensus price target of $220.27.

Fiserv Price Performance

FI traded up $1.52 during trading on Friday, reaching $166.90. The company's stock had a trading volume of 4,271,508 shares, compared to its average volume of 3,237,385. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $185.54 and a two-hundred day simple moving average of $205.52. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The company has a market cap of $92.54 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company posted $1.88 EPS. The business's revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company's stock.

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.