Legacy Private Trust Co. Reduces Position in Fiserv, Inc. (NYSE:FI)

Legacy Private Trust Co. cut its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,013 shares of the business services provider's stock after selling 3,602 shares during the period. Fiserv makes up 0.9% of Legacy Private Trust Co.'s investment portfolio, making the stock its 23rd biggest holding. Legacy Private Trust Co.'s holdings in Fiserv were worth $13,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FI. Root Financial Partners LLC bought a new stake in Fiserv in the fourth quarter valued at about $257,000. Principal Financial Group Inc. boosted its holdings in Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock valued at $190,875,000 after acquiring an additional 7,183 shares during the period. USAdvisors Wealth Management LLC acquired a new position in Fiserv in the fourth quarter worth about $322,000. Centricity Wealth Management LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $79,000. Finally, E. Ohman J or Asset Management AB raised its holdings in Fiserv by 9.0% in the fourth quarter. E. Ohman J or Asset Management AB now owns 26,100 shares of the business services provider's stock worth $5,361,000 after purchasing an additional 2,150 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 0.3%

NYSE:FI traded down $0.44 during mid-day trading on Tuesday, hitting $161.56. 2,980,075 shares of the company's stock were exchanged, compared to its average volume of 3,188,550. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The business has a fifty day moving average price of $189.93 and a 200 day moving average price of $206.78. The company has a market cap of $89.57 billion, a PE ratio of 29.97, a P/E/G ratio of 1.52 and a beta of 0.97.

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, beating analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 earnings per share. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a share repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the firm'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 in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays decreased their price target on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research report on Friday, April 25th. Truist Financial assumed coverage on shares of Fiserv in a research report on Monday. They issued a "buy" rating and a $181.00 price target for the company. Finally, Wall Street Zen initiated coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a "buy" rating for the company. Two equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $220.27.

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.