QRG Capital Management Inc. Decreases Holdings in Fiserv, Inc. (NYSE:FI)

QRG Capital Management Inc. decreased its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,441 shares of the business services provider's stock after selling 11,655 shares during the period. Fiserv makes up approximately 0.6% of QRG Capital Management Inc.'s holdings, making the stock its 28th largest holding. QRG Capital Management Inc.'s holdings in Fiserv were worth $54,421,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vega Investment Solutions purchased a new stake in Fiserv during the fourth quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in shares of Fiserv during the fourth quarter valued at about $28,000. Marshall Investment Management LLC bought a new position in shares of Fiserv during the fourth quarter valued at about $29,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv during the fourth quarter valued at about $37,000. Finally, Quarry LP grew its stake in shares of Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 1.0%

Shares of FI traded down $1.58 during mid-day trading on Tuesday, reaching $163.32. The company had a trading volume of 2,957,752 shares, compared to its average volume of 3,268,379. 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 firm has a 50-day moving average price of $180.92 and a 200 day moving average price of $203.05. Fiserv, Inc. has a 52 week low of $146.46 and a 52 week high of $238.59. The company has a market capitalization of $90.55 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping 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 firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FI. BMO Capital Markets reduced their price objective on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Morgan Stanley reaffirmed an "overweight" rating and set a $268.00 price objective (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Susquehanna reduced their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Monness Crespi & Hardt cut Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price on the stock. in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods cut their target price on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and an average target price of $220.27.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

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.