ProVise Management Group LLC Sells 2,476 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• ProVise Management Group LLC reduced its stake in Fiserv, Inc. by 4.3% during the first quarter, selling 2,476 shares and maintaining 55,754 shares worth approximately $12.3 million.
• Institutional investors control about 90.98% of Fiserv's stock, with GAMMA Investing LLC increasing its stake by an astonishing 21,681% in the same quarter.
• Fiserv reported a quarterly earnings per share of $2.47, exceeding analysts' expectations, and showed an 8% year-over-year revenue increase, totaling $5.20 billion.

ProVise Management Group LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,754 shares of the business services provider's stock after selling 2,476 shares during the quarter. ProVise Management Group LLC's holdings in Fiserv were worth $12,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Fiserv by 21,681.0% during the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the period. FMR LLC grew its stake in shares of Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $363,031,000. Finally, Northern Trust Corp grew its stake in shares of Fiserv by 19.5% during the fourth quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock worth $1,274,984,000 after purchasing an additional 1,014,126 shares during the period. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

FI opened at $138.99 on Friday. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The firm has a market capitalization of $75.56 billion, a PE ratio of 23.20, a PEG ratio of 0.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50-day simple moving average is $163.09 and its 200 day simple moving average is $193.22.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on FI. Redburn Atlantic reissued a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. The Goldman Sachs Group decreased their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Mizuho decreased their target price on Fiserv from $194.00 to $165.00 and set an "outperform" rating for the company in a research note on Tuesday. Stephens decreased their target price on Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Fiserv in a research note on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and an average target price of $207.08.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction that occurred on 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 owned 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of the company'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 value 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. 0.74% of the stock is owned by corporate insiders.

Fiserv 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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