McKinley Carter Wealth Services Inc. Sells 2,938 Shares of Fiserv, Inc. (NYSE:FI)

McKinley Carter Wealth Services Inc. decreased its position in Fiserv, Inc. (NYSE:FI - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,567 shares of the business services provider's stock after selling 2,938 shares during the quarter. McKinley Carter Wealth Services Inc.'s holdings in Fiserv were worth $12,050,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vega Investment Solutions bought a new position in shares of Fiserv in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the fourth quarter valued at approximately $28,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the fourth quarter valued at approximately $29,000. Campbell Capital Management Inc. acquired a new stake in shares of Fiserv in the fourth quarter worth $37,000. Finally, Quarry LP boosted its holdings in shares of Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on FI. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price on the stock. in a report on Wednesday, April 9th. Jefferies Financial Group dropped their price objective on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods cut their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, BMO Capital Markets cut their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $220.27.

Fiserv Price Performance

Shares of NYSE:FI traded down $0.45 on Thursday, hitting $167.62. The stock had a trading volume of 960,274 shares, compared to its average volume of 4,091,149. The firm's 50 day moving average price is $182.77 and its 200-day moving average price is $204.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The company has a market capitalization of $92.93 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI - Get Free Report) last released 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 analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has authorized a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the firm'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 transaction, the insider now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

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.