Fiserv, Inc. (NYSE:FI) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 11.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,995 shares of the business services provider's stock after selling 2,166 shares during the quarter. Fulton Bank N.A.'s holdings in Fiserv were worth $3,753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Fiserv by 1.9% during 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 in the last quarter. FMR LLC raised its holdings in Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Fiserv by 16.2% in 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 purchasing an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC boosted 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 buying an additional 340,938 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Fiserv in the 4th quarter worth $1,406,452,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Truist Financial assumed coverage on shares of Fiserv in a research report on Monday. They set a "buy" rating and a $181.00 price target on the stock. Susquehanna lowered their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Redburn Atlantic reissued a "sell" rating and set a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Finally, UBS Group decreased their price target on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Two 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 issued a strong buy rating to the company. According to MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and an average price target of $220.27.

Fiserv Stock Performance

FI traded up $1.25 on Thursday, hitting $165.41. 4,046,105 shares of the company traded hands, compared to its average volume of 3,222,276. The company has a 50 day moving average of $187.75 and a 200-day moving average of $206.18. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59. The stock has a market capitalization of $91.71 billion, a PE ratio of 30.69, a PEG ratio of 1.52 and a beta of 0.91. 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 (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the company earned $1.88 earnings per share. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has authorized a share repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction 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 now directly owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company 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.