Marks Group Wealth Management Inc Sells 7,297 Shares of Fiserv, Inc. (NYSE:FI)

Marks Group Wealth Management Inc decreased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,984 shares of the business services provider's stock after selling 7,297 shares during the period. Fiserv accounts for about 0.9% of Marks Group Wealth Management Inc's portfolio, making the stock its 23rd biggest holding. Marks Group Wealth Management Inc's holdings in Fiserv were worth $9,492,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FI. Vega Investment Solutions bought a new position in Fiserv during the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of Fiserv during the 4th quarter worth about $28,000. Abound Financial LLC purchased a new position in shares of Fiserv during the 1st quarter worth about $38,000. Campbell Capital Management Inc. bought a new position in Fiserv during the 4th quarter valued at about $37,000. Finally, Quarry LP raised its position in Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction on 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 owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The transaction 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 business's stock in a transaction dated 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 sale, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird cut their target price on Fiserv from $250.00 to $225.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 18th. Barclays dropped their price objective on Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Tigress Financial increased their target price on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Keefe, Bruyette & Woods lowered their target price on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Finally, Susquehanna reduced 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus target price of $221.23.

Fiserv Stock Down 2.6%

Shares of NYSE:FI traded down $4.49 during midday trading on Friday, hitting $165.21. 6,293,974 shares of the company's stock traded hands, compared to its average volume of 3,396,508. The firm's fifty day moving average price is $169.52 and its two-hundred day moving average price is $198.19. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. Fiserv, Inc. has a twelve month low of $153.77 and a twelve month high of $238.59. The company has a market cap of $91.60 billion, a PE ratio of 29.19, a P/E/G ratio of 1.01 and a beta of 0.91.

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

About Fiserv

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.