Fiserv, Inc. (NYSE:FI) Stake Trimmed by Scharf Investments LLC

Scharf Investments LLC decreased its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,122,658 shares of the business services provider's stock after selling 122,242 shares during the quarter. Fiserv makes up 7.5% of Scharf Investments LLC's holdings, making the stock its 2nd biggest position. Scharf Investments LLC owned about 0.20% of Fiserv worth $247,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vega Investment Solutions acquired a new stake in shares of Fiserv in the fourth quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $28,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $29,000. Campbell Capital Management Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at about $37,000. Finally, Quarry LP grew its position in shares of Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity

In related news, 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 transaction of $904,320.00. Following the sale, the executive vice president now directly owns 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company'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 sale, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

FI has been the topic of several research analyst reports. Wall Street Zen initiated coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a "buy" rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Morgan Stanley restated an "overweight" rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Finally, 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 research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $221.23.

Fiserv Trading Up 1.3%

Shares of Fiserv stock traded up $2.24 on Tuesday, reaching $172.78. The company had a trading volume of 6,877,579 shares, compared to its average volume of 3,324,480. The firm's 50 day moving average price is $175.60 and its two-hundred day moving average price is $201.16. The firm has a market cap of $95.79 billion, a PE ratio of 30.53, a PEG ratio of 1.06 and a beta of 0.90. Fiserv, Inc. has a 52-week low of $146.46 and a 52-week high of $238.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion for 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 business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal 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.