Suncoast Equity Management Boosts Holdings in Fiserv, Inc. (NYSE:FI)

Suncoast Equity Management raised its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 217,273 shares of the business services provider's stock after purchasing an additional 3,923 shares during the quarter. Fiserv accounts for about 5.4% of Suncoast Equity Management's investment portfolio, making the stock its 5th biggest position. Suncoast Equity Management's holdings in Fiserv were worth $47,980,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vega Investment Solutions bought a new position in Fiserv in the fourth quarter worth $25,000. Park Square Financial Group LLC bought a new stake in Fiserv in the fourth quarter valued at about $28,000. Marshall Investment Management LLC bought a new stake in Fiserv in the fourth quarter valued at about $29,000. Campbell Capital Management Inc. bought a new stake in Fiserv in the fourth quarter valued at about $37,000. Finally, Quarry LP grew its stake in shares of Fiserv by 51.9% in the 4th 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 own 90.98% of the company's stock.

Fiserv Stock Performance

FI stock opened at $162.97 on Friday. The company has a 50 day moving average price of $177.23 and a 200 day moving average price of $201.73. The stock has a market capitalization of $90.36 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. Analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Activity at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was 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 in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Susquehanna lowered their price target on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Citigroup lowered their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group lowered their price target on Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. lowered their price target on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.

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.

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