Grimes & Company Inc. Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Grimes & Company Inc. reduced its position in Fiserv, Inc. (NYSE:FI) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,913 shares of the business services provider’s stock after selling 601 shares during the quarter. Grimes & Company Inc.’s holdings in Fiserv were worth $1,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meritage Portfolio Management purchased a new stake in shares of Fiserv in the fourth quarter valued at about $995,000. Piscataqua Savings Bank acquired a new position in Fiserv in the fourth quarter valued at approximately $67,000. GHP Investment Advisors Inc. acquired a new position in Fiserv in the fourth quarter valued at approximately $78,000. Liberty Capital Management Inc. purchased a new position in Fiserv in the fourth quarter worth approximately $7,071,000. Finally, Birch Hill Investment Advisors LLC acquired a new stake in Fiserv during the fourth quarter worth $84,583,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of several recent analyst reports. Evercore ISI reiterated an “outperform” rating and set a $185.00 price target on shares of Fiserv in a report on Tuesday, March 26th. Robert W. Baird increased their target price on shares of Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Barclays boosted their price target on shares of Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, B. Riley boosted their target price on Fiserv from $176.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.44.

Fiserv Stock Down 0.0 %

Shares of NYSE FI opened at $149.04 on Friday. The business has a 50-day moving average of $150.81 and a two-hundred day moving average of $147.10. The company has a market capitalization of $87.20 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS. On average, analysts forecast that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In related news, EVP John Gibbons sold 2,800 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,729 shares of company stock worth $7,611,991. 0.75% of the stock is currently owned by insiders.

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.