Harvey Capital Management Inc. Sells 3,650 Shares of Fiserv, Inc. (NYSE:FI)

Harvey Capital Management Inc. lessened its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,870 shares of the business services provider's stock after selling 3,650 shares during the period. Harvey Capital Management Inc.'s holdings in Fiserv were worth $1,738,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Fiserv in the fourth quarter worth approximately $1,406,452,000. GAMMA Investing LLC boosted its holdings in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after acquiring an additional 3,804,358 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after acquiring an additional 2,174,025 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after acquiring an additional 2,153,554 shares in the last quarter. Finally, FMR LLC boosted its holdings in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of Fiserv stock traded down $1.46 during trading hours on Thursday, reaching $169.49. The company had a trading volume of 1,616,349 shares, compared to its average volume of 3,363,163. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59. The business has a fifty day simple moving average of $170.18 and a 200 day simple moving average of $198.83. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $93.97 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly 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. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $1.88 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated 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 owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 transaction, the insider directly owned 53,385 shares in the company, valued at $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.

Analyst Ratings Changes

FI has been the topic of several recent research reports. Citigroup cut their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays cut their price target on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Redburn Atlantic reissued a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a research note on Thursday, April 17th. UBS Group lowered their price objective on Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, Piper Sandler set a $218.00 price objective on Fiserv in a research note on Friday, April 25th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $221.23.

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.