Fiserv, Inc. (NYSE:FI) Shares Sold by Meridian Management Co.

Key Points

• Meridian Management Co. reduced its stake in Fiserv, Inc. by 53.9% during the first quarter, selling 16,484 shares and now holds 14,071 shares valued at approximately $3,107,000.
• Fiserv reported earnings per share of $2.47 for the recent quarter, surpassing analyst expectations of $2.43, with a revenue of $5.20 billion.
• Several institutional investors, including Nemes Rush Group LLC and LPL Financial LLC, have recently adjusted their holdings, indicating strong interest from the institutional side with over 90% of shares owned by such investors.

Meridian Management Co. lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 53.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,071 shares of the business services provider's stock after selling 16,484 shares during the quarter. Fiserv comprises 1.0% of Meridian Management Co.'s holdings, making the stock its 29th largest holding. Meridian Management Co.'s holdings in Fiserv were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC boosted its holdings in Fiserv by 6.5% in the first quarter. Nemes Rush Group LLC now owns 38,106 shares of the business services provider's stock worth $8,415,000 after acquiring an additional 2,329 shares in the last quarter. LPL Financial LLC raised its stake in shares of Fiserv by 16.8% in the first quarter. LPL Financial LLC now owns 589,418 shares of the business services provider's stock worth $130,161,000 after purchasing an additional 84,734 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fiserv by 2.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 300,271 shares of the business services provider's stock worth $66,309,000 after purchasing an additional 6,561 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new position in shares of Fiserv in the first quarter worth about $1,003,000. Finally, Investment Management Corp VA ADV raised its stake in shares of Fiserv by 24.4% in the first quarter. Investment Management Corp VA ADV now owns 2,857 shares of the business services provider's stock worth $631,000 after purchasing an additional 560 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the company'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $904,320.00. Following the completion of the sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Fiserv Stock Down 0.4%

Shares of FI traded down $0.55 during mid-day trading on Thursday, reaching $140.31. The company's stock had a trading volume of 2,381,949 shares, compared to its average volume of 4,439,496. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The stock has a market cap of $76.27 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The company's 50 day moving average is $163.54 and its 200 day moving average is $193.65.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. Equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FI. Keefe, Bruyette & Woods reduced their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price target on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Stephens decreased their price target on Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Monness Crespi & Hardt raised Fiserv from a "sell" rating to a "neutral" rating in a report on Monday, July 21st. Finally, BMO Capital Markets decreased 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus target price of $207.08.

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.