M&R Capital Management Inc. Trims Stock Holdings in Fiserv, Inc. (NYSE:FI)

M&R Capital Management Inc. lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 54,328 shares of the business services provider’s stock after selling 2,163 shares during the period. Fiserv makes up 2.1% of M&R Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. M&R Capital Management Inc.’s holdings in Fiserv were worth $8,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after purchasing an additional 789,232 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Fiserv in the fourth quarter worth about $5,885,279,000. Capital World Investors purchased a new stake in shares of Fiserv during the fourth quarter valued at approximately $2,329,623,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $960,592,000. Finally, Veritas Asset Management LLP purchased a new position in Fiserv in the 4th quarter worth approximately $927,298,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Fiserv news, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 23,929 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,847,871.21. The disclosure for this sale can be found here. Insiders sold 90,375 shares of company stock worth $13,850,195 in the last quarter. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

NYSE FI traded down $0.41 during trading hours on Tuesday, reaching $149.32. The company’s stock had a trading volume of 1,562,978 shares, compared to its average volume of 2,460,013. The company has a market capitalization of $87.37 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.20 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The firm’s 50-day moving average price is $150.93 and its 200-day moving average price is $146.08.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS 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 analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 EPS. On average, equities research analysts predict that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on FI. B. Riley lifted their target price on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. BMO Capital Markets raised their price target on shares of Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $158.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company assumed coverage on shares of Fiserv in a report on Wednesday, June 12th. They issued an “overweight” rating and a $180.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.44.

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.