Robbins Farley Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Robbins Farley lowered its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,671 shares of the business services provider's stock after selling 3,896 shares during the period. Fiserv comprises 2.8% of Robbins Farley's holdings, making the stock its 8th largest position. Robbins Farley's holdings in Fiserv were worth $5,227,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jacobi Capital Management LLC increased its position in Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock worth $2,281,000 after buying an additional 44 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in 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 valued at $794,000 after purchasing an additional 44 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Pointe Capital Management LLC increased its stake in shares of Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock worth $649,000 after purchasing an additional 56 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Fiserv by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,046 shares of the business services provider's stock valued at $831,000 after buying an additional 57 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada set a $237.00 price objective on shares of Fiserv in a research note on Friday, April 25th. Susquehanna cut their target price on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. BMO Capital Markets lowered their price target on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Citigroup decreased their target price on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.27.

Fiserv Trading Up 1.5%

Shares of FI traded up $2.46 during trading hours on Monday, hitting $165.48. The company had a trading volume of 1,668,950 shares, compared to its average volume of 4,076,540. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The stock's 50 day moving average price is $181.52 and its 200 day moving average price is $203.45. The firm has a market cap of $91.75 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI - Get Free Report) last announced 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 17.93% and a net margin of 15.31%. The business 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 earned $1.88 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

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.