Gilman Hill Asset Management LLC Sells 3,383 Shares of Fiserv, Inc. (NYSE:FI)

Gilman Hill Asset Management LLC decreased its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,728 shares of the business services provider's stock after selling 3,383 shares during the period. Fiserv accounts for about 1.2% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 26th largest holding. Gilman Hill Asset Management LLC's holdings in Fiserv were worth $7,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FI. Jacobi Capital Management LLC lifted its position in shares of Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock valued at $2,281,000 after acquiring an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust increased its position in Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after acquiring an additional 45 shares during the period. Hemington Wealth Management increased its holdings in shares of Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider's stock worth $177,000 after purchasing an additional 50 shares during the period. Finally, Pointe Capital Management LLC raised its holdings in Fiserv by 1.8% in the 4th quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock valued at $649,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FI shares. Susquehanna decreased their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Citigroup decreased their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their target price on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, Jefferies Financial Group reduced their price objective 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. Two 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $220.27.

Fiserv Stock Up 0.9%

NYSE:FI traded up $1.52 on Friday, hitting $166.90. 4,271,508 shares of the company's stock were exchanged, compared to its average volume of 3,231,544. The company has a market cap of $92.54 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The firm has a 50-day moving average price of $186.64 and a 200-day moving average price of $205.85. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Fiserv 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.