Patton Albertson Miller Group LLC Sells 9,532 Shares of Fiserv, Inc. (NYSE:FI)

Patton Albertson Miller Group LLC lessened its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,839 shares of the business services provider's stock after selling 9,532 shares during the period. Fiserv comprises 1.2% of Patton Albertson Miller Group LLC's portfolio, making the stock its 19th biggest holding. Patton Albertson Miller Group LLC's holdings in Fiserv were worth $8,356,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after buying an additional 44 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its holdings in shares of Fiserv by 3.9% during the first quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock worth $282,000 after buying an additional 48 shares in the last quarter. Adero Partners LLC increased its holdings in shares of Fiserv by 2.3% during the first quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock worth $550,000 after buying an additional 55 shares in the last quarter. Oakworth Capital Inc. increased its holdings in shares of Fiserv by 5.6% during the first quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock worth $235,000 after buying an additional 56 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Fiserv by 6.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider's stock worth $206,000 after buying an additional 56 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Insider Activity at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. 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 transaction of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares in the company, 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.

Fiserv Stock Up 1.0%

Shares of FI stock opened at $167.30 on Friday. Fiserv, Inc. has a 52-week low of $154.17 and a 52-week high of $238.59. The firm's 50-day moving average is $168.12 and its 200-day moving average is $197.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $92.75 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.01 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (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 prior year, the business posted $1.88 EPS. The business's revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FI. Truist Financial raised their price target on shares of Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a report on Thursday. Monness Crespi & Hardt lowered shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a report on Wednesday, April 9th. Piper Sandler set a $218.00 price target on shares of Fiserv in a report on Friday, April 25th. Barclays lowered their price target on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen assumed coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a "buy" rating for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and an average target price of $220.59.

Fiserv Company 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.

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