Campbell Newman Asset Management Inc. Decreases Position in Fiserv, Inc. (NYSE:FI)

Campbell Newman Asset Management Inc. lessened its position in shares of Fiserv, Inc. (NYSE:FI) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,973 shares of the business services provider’s stock after selling 588 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Fiserv were worth $4,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vega Investment Solutions acquired a new position in Fiserv in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in Fiserv during the fourth quarter worth approximately $28,000. Marshall Investment Management LLC acquired a new position in shares of Fiserv in the 4th quarter valued at $29,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Quarry LP raised 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 acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 3.1%

FI opened at $162.79 on Friday. The stock has a fifty day moving average price of $181.52 and a 200-day moving average price of $203.68. 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 cap of $90.26 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 12 month low of $146.46 and a 12 month high of $238.59.

Fiserv (NYSE:FI) last posted its earnings results 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. 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%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 earnings per share. As a group, equities research analysts anticipate 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 share repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

FI has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Citigroup reduced their target price on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. BMO Capital Markets reduced their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wall Street Zen initiated coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.27.

Insiders Place Their Bets

In related news, 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 transaction 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. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

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.