Geneva Capital Management LLC Sells 4,495 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Geneva Capital Management LLC has reduced its stake in Fiserv, Inc. by 2.4%, selling 4,495 shares and now holding 186,690 shares valued at approximately $41.2 million.
• Several institutional investors have increased their stakes in Fiserv, with FMR LLC leading by boosting its holdings by 22.5% to own over 11.5 million shares worth nearly $2.4 billion.
• Analysts have set varying price targets for Fiserv, with an average target price of $207.08, reflecting a consensus of 23 buy ratings and only one sell rating.

Geneva Capital Management LLC lessened its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,690 shares of the business services provider's stock after selling 4,495 shares during the period. Geneva Capital Management LLC's holdings in Fiserv were worth $41,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in 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 purchasing an additional 2,033 shares during the last quarter. Arete Wealth Advisors LLC raised its position in Fiserv by 16.1% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,881 shares of the business services provider's stock valued at $387,000 after purchasing an additional 261 shares during the last quarter. KCM Investment Advisors LLC raised its position in Fiserv by 58.2% during the 4th quarter. KCM Investment Advisors LLC now owns 2,258 shares of the business services provider's stock valued at $464,000 after purchasing an additional 831 shares during the last quarter. Aviva PLC raised its position in Fiserv by 7.9% during the 4th quarter. Aviva PLC now owns 346,821 shares of the business services provider's stock valued at $71,244,000 after purchasing an additional 25,256 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in Fiserv by 1.5% during the 4th quarter. Wedbush Securities Inc. now owns 10,099 shares of the business services provider's stock valued at $2,075,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FI shares. KeyCorp decreased their target price on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a research report on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. The Goldman Sachs Group decreased their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Susquehanna decreased their target price on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $207.08.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm'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 completion of the transaction, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Stock Down 1.1%

FI traded down $1.50 during trading on Thursday, hitting $132.54. 6,306,037 shares of the company's stock traded hands, compared to its average volume of 4,500,936. The company's 50 day simple moving average is $161.11 and its two-hundred day simple moving average is $191.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The stock has a market capitalization of $72.05 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business posted $2.13 EPS. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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.