Fiserv, Inc. (NYSE:FI) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 18.5% during the 1st quarter, HoldingsChannel reports. The firm owned 2,153 shares of the business services provider’s stock after selling 490 shares during the period. Salem Investment Counselors Inc.’s holdings in Fiserv were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Everhart Financial Group Inc. raised its holdings in Fiserv by 12.8% in the 1st quarter. Everhart Financial Group Inc. now owns 5,284 shares of the business services provider’s stock valued at $1,167,000 after buying an additional 598 shares during the period. Smithbridge Asset Management Inc. DE acquired a new position in shares of Fiserv during the first quarter worth about $10,850,000. Sky Investment Group LLC grew its position in shares of Fiserv by 21.0% during the first quarter. Sky Investment Group LLC now owns 4,969 shares of the business services provider’s stock worth $1,097,000 after buying an additional 861 shares in the last quarter. Thomasville National Bank acquired a new position in shares of Fiserv during the first quarter worth about $254,000. Finally, May Barnhard Investments LLC acquired a new position in shares of Fiserv during the first quarter worth about $208,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the business’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 completion of the sale, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FI shares. Piper Sandler set a $218.00 price target on Fiserv in a report on Friday, April 25th. Tigress Financial boosted their target price on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on shares of Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Jefferies Financial Group dropped their target price on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Finally, Citigroup dropped their target price on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a report on Friday, April 25th. Two equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average price target of $220.27.

Fiserv Stock Performance

Shares of FI stock opened at $162.79 on Friday. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year 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 company has a market capitalization of $90.26 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 1.52 and a beta of 0.90. The stock’s fifty day simple moving average is $181.52 and its 200-day simple moving average is $203.68.

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

Fiserv announced that its Board of Directors has authorized a share 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 buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.