Live Oak Private Wealth LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Live Oak Private Wealth LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 21.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,364 shares of the business services provider's stock after selling 10,933 shares during the quarter. Fiserv accounts for 1.4% of Live Oak Private Wealth LLC's investment portfolio, making the stock its 24th largest position. Live Oak Private Wealth LLC's holdings in Fiserv were worth $8,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Fiserv during the fourth quarter worth approximately $1,406,452,000. GAMMA Investing LLC grew its holdings in Fiserv by 21,681.0% during the 1st 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. Raymond James Financial Inc. purchased a new stake in shares of Fiserv in the 4th quarter valued at approximately $614,982,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Fiserv by 343.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after purchasing an additional 2,174,025 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

FI has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Tigress Financial increased their price objective on 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 target price (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Susquehanna dropped their price target on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Finally, Barclays cut their price objective on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.23.

Insider Buying and Selling

In other news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of NYSE:FI traded up $2.24 during midday trading on Tuesday, hitting $172.78. The stock had a trading volume of 6,877,579 shares, compared to its average volume of 3,324,480. Fiserv, Inc. has a 1 year low of $146.46 and a 1 year high of $238.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average price of $175.60 and a two-hundred day moving average price of $201.16. The company has a market capitalization of $95.79 billion, a PE ratio of 30.53, a P/E/G ratio of 1.06 and a beta of 0.90.

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

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.