Somerville Kurt F Reduces Position in Fiserv, Inc. (NYSE:FI)

Somerville Kurt F lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 120,707 shares of the business services provider's stock after selling 7,443 shares during the quarter. Fiserv comprises approximately 4.6% of Somerville Kurt F's holdings, making the stock its 3rd largest holding. Somerville Kurt F's holdings in Fiserv were worth $26,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FI. Quadrant Private Wealth Management LLC increased its holdings in Fiserv by 8.3% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 1,146 shares of the business services provider's stock valued at $253,000 after purchasing an additional 88 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Fiserv by 6.4% in the first quarter. Proficio Capital Partners LLC now owns 2,512 shares of the business services provider's stock worth $555,000 after buying an additional 151 shares during the period. KLP Kapitalforvaltning AS grew its stake in shares of Fiserv by 1.8% in the first quarter. KLP Kapitalforvaltning AS now owns 214,836 shares of the business services provider's stock valued at $47,442,000 after buying an additional 3,900 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Fiserv by 5.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,129,739 shares of the business services provider's stock valued at $268,844,000 after buying an additional 60,823 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Fiserv during the 1st quarter worth approximately $3,593,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

FI has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. KeyCorp dropped their price target on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group decreased their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Morgan Stanley dropped their target price on Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Citigroup cut their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.63.

Fiserv Stock Performance

Shares of Fiserv stock traded down $2.81 on Thursday, reaching $140.19. 12,901,195 shares of the company were exchanged, compared to its average volume of 4,962,732. The firm has a market cap of $77.73 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 0.88 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.10 and a current ratio of 1.09. The company's 50-day moving average is $165.90 and its two-hundred day moving average is $195.82.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $2.13 earnings per share. As a group, research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction 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 sale, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv 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.