Smithbridge Asset Management Inc. DE Buys New Shares in Fiserv, Inc. (NYSE:FI)

Smithbridge Asset Management Inc. DE bought a new position in Fiserv, Inc. (NYSE:FI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 49,131 shares of the business services provider's stock, valued at approximately $10,850,000. Fiserv makes up about 2.0% of Smithbridge Asset Management Inc. DE's investment portfolio, making the stock its 13th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vega Investment Solutions bought a new stake in shares of Fiserv in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new position in shares of Fiserv in the fourth quarter worth approximately $28,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv in the fourth quarter worth approximately $29,000. Campbell Capital Management Inc. purchased a new position in shares of Fiserv in the fourth quarter worth approximately $37,000. Finally, Quarry LP increased 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 worth $42,000 after acquiring an additional 70 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FI. Keefe, Bruyette & Woods dropped their target price on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Tigress Financial lifted their target price on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Mizuho set a $200.00 target price on shares of Fiserv in a research report on Thursday, May 15th. Royal Bank of Canada set a $237.00 target price on shares of Fiserv in a research report on Friday, April 25th. Finally, Susquehanna dropped their target price on shares of Fiserv from $250.00 to $240.00 and set a "positive" 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 given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $220.27.

Insider Buying and Selling

In related news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Stock Down 3.1%

NYSE FI traded down $5.23 during trading on Friday, reaching $162.79. The company's stock had a trading volume of 3,499,748 shares, compared to its average volume of 3,262,308. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $90.26 billion, a PE ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90. The business has a 50-day moving average price of $182.17 and a 200-day moving average price of $204.09. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its 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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has approved a stock buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.