Fiserv, Inc. (NYSE:FI) Shares Sold by Selway Asset Management

Selway Asset Management lessened its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,455 shares of the business services provider's stock after selling 3,200 shares during the period. Fiserv comprises approximately 2.9% of Selway Asset Management's investment portfolio, making the stock its 10th biggest position. Selway Asset Management's holdings in Fiserv were worth $6,946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 218,833 shares during the period. FMR LLC lifted its holdings 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 worth $2,376,482,000 after buying an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Fiserv by 16.2% during the 4th 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 buying an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Fiserv by 5.2% in the fourth 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 acquiring an additional 340,938 shares in the last quarter. Finally, Norges Bank purchased a new stake in Fiserv in the fourth quarter worth about $1,406,452,000. Institutional investors own 90.98% of the company's stock.

Fiserv Price Performance

Fiserv stock traded up $2.13 during trading on Wednesday, reaching $164.24. The company had a trading volume of 4,521,998 shares, compared to its average volume of 3,214,284. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The firm's 50-day simple moving average is $188.79 and its 200 day simple moving average is $206.47. The firm has a market capitalization of $91.06 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released 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. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. As a group, equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. The Goldman Sachs Group lowered their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. 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. Barclays reduced their price target on Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Royal Bank of Canada set a $237.00 price objective on Fiserv in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Fiserv has an average rating of "Moderate Buy" and a consensus price target of $220.27.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the 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 completion of the sale, the insider now owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the executive vice president now directly 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 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.