Hemenway Trust Co LLC Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Hemenway Trust Co LLC lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,487 shares of the business services provider's stock after selling 6,061 shares during the period. Fiserv makes up about 4.5% of Hemenway Trust Co LLC's investment portfolio, making the stock its 3rd largest holding. Hemenway Trust Co LLC's holdings in Fiserv were worth $55,094,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of FI. LaFleur & Godfrey LLC grew its position in Fiserv by 0.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider's stock worth $3,721,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC grew 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 worth $872,000 after purchasing an additional 2,033 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Fiserv during the 4th quarter worth approximately $11,330,000. Van ECK Associates Corp grew its position in Fiserv by 2.7% during the 4th quarter. Van ECK Associates Corp now owns 22,699 shares of the business services provider's stock worth $4,663,000 after purchasing an additional 594 shares in the last quarter. Finally, Allworth Financial LP grew its position in Fiserv by 49.3% during the 4th quarter. Allworth Financial LP now owns 7,176 shares of the business services provider's stock worth $1,503,000 after purchasing an additional 2,368 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Tigress Financial boosted their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a report on Friday, April 25th. Finally, Royal Bank Of Canada set a $237.00 price target on shares of Fiserv in a 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Stock Down 1.0%

Fiserv stock opened at $163.32 on Wednesday. The firm has a market cap of $90.55 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.02 and a beta of 0.90. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The firm has a fifty day moving average price of $179.98 and a two-hundred day moving average price of $202.78.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 EPS. As a group, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction 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 position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

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.

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