Fiserv, Inc. (NYSE:FI) Stake Decreased by Selway Asset Management

Selway Asset Management reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,455 shares of the business services provider’s stock after selling 3,200 shares during the period. Fiserv accounts for about 2.9% of Selway Asset Management’s investment portfolio, making the stock its 10th largest position. Selway Asset Management’s holdings in Fiserv were worth $6,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vega Investment Solutions purchased a new position in Fiserv in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Fiserv in the fourth quarter valued at approximately $28,000. Valley National Advisers Inc. purchased a new position in Fiserv in the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new position in Fiserv in the fourth quarter valued at approximately $29,000. Finally, Compass Financial Services Inc purchased a new position in Fiserv in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FI. JPMorgan Chase & Co. cut their price target on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. KeyCorp increased their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group lowered 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. Susquehanna lowered their price objective on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, Citigroup lowered their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.27.

Insider Activity

In other news, insider Adam L. Rosman sold 2,512 shares of the business’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 owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the business’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 directly owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $161.87 on Tuesday. The business’s fifty day moving average price is $189.93 and its 200 day moving average price is $206.78. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59. The stock has a market capitalization of $89.75 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has authorized a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.