Legacy Private Trust Co. Sells 3,602 Shares of Fiserv, Inc. (NYSE:FI)

Legacy Private Trust Co. cut its position in shares of Fiserv, Inc. (NYSE:FI) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 62,013 shares of the business services provider’s stock after selling 3,602 shares during the period. Fiserv comprises about 0.9% of Legacy Private Trust Co.’s investment portfolio, making the stock its 23rd largest holding. Legacy Private Trust Co.’s holdings in Fiserv were worth $13,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FI. Jacobi Capital Management LLC raised its position in shares of Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock worth $794,000 after acquiring an additional 44 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Fiserv by 1.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Catalina Capital Group LLC raised its position in shares of Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after acquiring an additional 48 shares in the last quarter. Finally, Hemington Wealth Management raised its position in shares of Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after acquiring an additional 50 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fiserv 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 now owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the 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 transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.

Fiserv Stock Performance

NYSE FI opened at $159.33 on Friday. The stock has a market capitalization of $88.34 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. 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 50-day moving average of $192.34 and a 200 day moving average of $207.55.

Fiserv (NYSE:FI) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Fiserv’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has approved a stock repurchase plan 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 plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FI shares. Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. Barclays reduced their target price on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upped their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Susquehanna reduced their target price on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Finally, Jefferies Financial Group reduced their target price on Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.84.

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.