SFE Investment Counsel Sells 2,582 Shares of Fiserv, Inc. (NYSE:FI)

SFE Investment Counsel lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,569 shares of the business services provider's stock after selling 2,582 shares during the quarter. Fiserv comprises 1.3% of SFE Investment Counsel's holdings, making the stock its 28th biggest position. SFE Investment Counsel's holdings in Fiserv were worth $6,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Argonautica Private Wealth Management Inc. grew its position in Fiserv by 104.6% in the first quarter. Argonautica Private Wealth Management Inc. now owns 5,849 shares of the business services provider's stock valued at $1,292,000 after acquiring an additional 2,990 shares during the last quarter. Carnegie Investment Counsel grew its holdings in shares of Fiserv by 20.0% during the first quarter. Carnegie Investment Counsel now owns 4,706 shares of the business services provider's stock worth $1,039,000 after purchasing an additional 785 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Fiserv by 0.3% during the first quarter. Pinnacle Associates Ltd. now owns 16,794 shares of the business services provider's stock worth $3,709,000 after purchasing an additional 57 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Fiserv during the first quarter worth about $286,000. Finally, WESPAC Advisors SoCal LLC grew its holdings in shares of Fiserv by 25.2% during the first quarter. WESPAC Advisors SoCal LLC now owns 4,753 shares of the business services provider's stock worth $1,050,000 after purchasing an additional 958 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on FI shares. Monness Crespi & Hardt upgraded Fiserv from a "sell" rating to a "neutral" rating in a report on Monday. Jefferies Financial Group lowered their price target on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Redburn Atlantic restated a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a research note on Thursday, April 17th. Citigroup cut their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Susquehanna dropped their price objective on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.63.

Insiders Place Their Bets

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 sale, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Fiserv Stock Down 2.0%

Shares of NYSE FI traded down $2.81 during mid-day trading on Thursday, hitting $140.19. 12,901,195 shares of the stock traded hands, compared to its average volume of 4,962,732. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.10 and a current ratio of 1.09. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The company has a market cap of $77.73 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 0.88 and a beta of 0.91. The stock has a fifty day moving average price of $165.52 and a 200-day moving average price of $195.37.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

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.