New South Capital Management Inc. Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

New South Capital Management Inc. cut its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499,745 shares of the business services provider's stock after selling 67,009 shares during the quarter. Fiserv comprises about 5.3% of New South Capital Management Inc.'s investment portfolio, making the stock its 4th biggest holding. New South Capital Management Inc. owned 0.09% of Fiserv worth $110,359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vega Investment Solutions bought a new stake in shares of Fiserv during the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at $28,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Quarry LP boosted its position in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after purchasing an additional 70 shares during the period. Finally, Knuff & Co LLC purchased a new position in Fiserv in the 4th quarter worth about $45,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FI. The Goldman Sachs Group reduced their price objective on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Wall Street Zen began coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating for the company. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research report on Friday, April 25th. UBS Group cut their target price on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.23.

Fiserv Stock Up 1.8%

Fiserv stock traded up $3.10 during mid-day trading on Friday, hitting $175.55. 2,211,394 shares of the company's stock were exchanged, compared to its average volume of 3,359,592. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The stock has a 50 day moving average of $170.83 and a two-hundred day moving average of $199.47. The stock has a market cap of $97.33 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.08 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02.

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, beating analysts' consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew Gelb sold 5,652 shares of the company'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 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 represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider directly owned 53,385 shares of the company's stock, valued at approximately $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.

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.