Fiserv, Inc. (NYSE:FI) is Professional Advisory Services Inc.’s 7th Largest Position

Professional Advisory Services Inc. lowered its position in Fiserv, Inc. (NYSE:FI) by 9.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 125,922 shares of the business services provider’s stock after selling 13,792 shares during the period. Fiserv comprises approximately 3.9% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 7th largest position. Professional Advisory Services Inc.’s holdings in Fiserv were worth $27,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FI. Miracle Mile Advisors LLC boosted its stake in shares of Fiserv by 2.6% during the first quarter. Miracle Mile Advisors LLC now owns 9,338 shares of the business services provider’s stock valued at $2,062,000 after purchasing an additional 241 shares during the period. RDA Financial Network grew its holdings in shares of Fiserv by 4.4% in the first quarter. RDA Financial Network now owns 15,609 shares of the business services provider’s stock worth $3,447,000 after purchasing an additional 658 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Fiserv by 22.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 6,674 shares of the business services provider’s stock worth $1,474,000 after purchasing an additional 1,219 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Fiserv by 4.6% in the first quarter. Wedmont Private Capital now owns 6,889 shares of the business services provider’s stock worth $1,434,000 after purchasing an additional 306 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Fiserv by 2.9% in the first quarter. UMB Bank n.a. now owns 9,284 shares of the business services provider’s stock worth $2,050,000 after purchasing an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $166.90 on Friday. 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 firm has a market capitalization of $92.54 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.91. The business has a fifty day simple moving average of $185.54 and a two-hundred day simple moving average of $205.44. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating 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 business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FI shares. UBS Group cut their target price on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Morgan Stanley restated an “overweight” rating and issued a $268.00 target price (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. The Goldman Sachs Group cut their target price on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Jefferies Financial Group cut their target price on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Tuesday, May 27th. Finally, Barclays cut their target price on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Two research 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 given a strong buy rating to the company’s stock. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $220.27.

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.