Agate Pass Investment Management LLC Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Agate Pass Investment Management LLC lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.2% in the first quarter, Holdings Channel.com reports. The firm owned 23,806 shares of the business services provider’s stock after selling 300 shares during the period. Fiserv comprises 2.0% of Agate Pass Investment Management LLC’s portfolio, making the stock its 13th largest holding. Agate Pass Investment Management LLC’s holdings in Fiserv were worth $3,805,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Cooper Financial Group lifted its position in shares of Fiserv by 3.1% in the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after buying an additional 67 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Fiserv by 1.8% in the first quarter. Wedmont Private Capital now owns 4,898 shares of the business services provider’s stock worth $761,000 after buying an additional 87 shares during the last quarter. Modera Wealth Management LLC lifted its position in shares of Fiserv by 2.3% in the third quarter. Modera Wealth Management LLC now owns 5,443 shares of the business services provider’s stock worth $615,000 after buying an additional 121 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Fiserv by 0.3% in the first quarter. Contravisory Investment Management Inc. now owns 53,379 shares of the business services provider’s stock worth $8,531,000 after buying an additional 134 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of Fiserv by 5.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,549 shares of the business services provider’s stock worth $288,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

FI stock traded down $0.59 during midday trading on Thursday, reaching $149.16. 635,851 shares of the company’s stock traded hands, compared to its average volume of 2,488,931. The company has a 50-day simple moving average of $150.76 and a two-hundred day simple moving average of $146.89. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The company has a market cap of $87.27 billion, a price-to-earnings ratio of 27.84, 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 (NYSE:FI) last released its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $1.58 EPS. On average, analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price objective on Fiserv from $185.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group boosted their price objective on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, March 25th. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Fiserv in a research report on Wednesday, April 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Fiserv in a report on Tuesday, March 26th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.44.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of 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 ninety days, insiders sold 50,729 shares of company stock valued at $7,611,991. Company insiders own 0.75% of the company’s stock.

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.