Penserra Capital Management LLC Lowers Position in Fiserv, Inc. (NYSE:FI)

Penserra Capital Management LLC trimmed its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,334 shares of the business services provider's stock after selling 13,429 shares during the quarter. Penserra Capital Management LLC's holdings in Fiserv were worth $18,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. US Asset Management LLC raised its stake in Fiserv by 30.3% during the first quarter. US Asset Management LLC now owns 5,406 shares of the business services provider's stock worth $1,194,000 after buying an additional 1,256 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its position in shares of Fiserv by 5.3% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 1,603 shares of the business services provider's stock worth $354,000 after acquiring an additional 80 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Fiserv by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 12,770 shares of the business services provider's stock valued at $2,820,000 after buying an additional 459 shares during the period. Simmons Bank boosted its stake in Fiserv by 13.1% during the first quarter. Simmons Bank now owns 3,111 shares of the business services provider's stock worth $687,000 after acquiring an additional 360 shares in the last quarter. Finally, World Investment Advisors increased its position in Fiserv by 15.1% in the 1st quarter. World Investment Advisors now owns 72,445 shares of the business services provider's stock valued at $15,998,000 after buying an additional 9,526 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The stock was 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 of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of research reports. Royal Bank Of Canada set a $237.00 target price on Fiserv in a research report on Friday, April 25th. Tigress Financial raised their price objective on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. UBS Group decreased their target price on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group lowered their target price on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, Susquehanna cut their price target on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.

Fiserv Stock Performance

NYSE FI traded down $2.74 during trading hours on Tuesday, reaching $170.57. 3,964,403 shares of the company were exchanged, compared to its average volume of 3,364,028. Fiserv, Inc. has a 1 year low of $146.46 and a 1 year high of $238.59. The business's 50 day simple moving average is $170.45 and its 200-day simple moving average is $199.02. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $94.57 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.07 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The company's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. On average, equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current 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.