Geneva Capital Management LLC Decreases Stake in Fiserv, Inc. (NYSE:FI)

Geneva Capital Management LLC trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 242,739 shares of the business services provider’s stock after selling 5,405 shares during the quarter. Geneva Capital Management LLC’s holdings in Fiserv were worth $38,795,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in shares of Fiserv in the 3rd quarter valued at $5,705,241,000. Price T Rowe Associates Inc. MD purchased a new stake in Fiserv during the 4th quarter worth about $5,885,279,000. Capital World Investors acquired a new position in shares of Fiserv during the 4th quarter worth about $2,329,623,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Fiserv during the 4th quarter worth about $960,592,000. Finally, Veritas Asset Management LLP purchased a new position in shares of Fiserv in the 4th quarter valued at about $927,298,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,847,871.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction 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 completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction 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 disclosure for this sale can be found here. Insiders sold 50,729 shares of company stock worth $7,611,991 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FI has been the subject of a number of research analyst reports. Barclays upped their price target on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Fiserv in a research report on Wednesday, April 24th. Robert W. Baird boosted their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group boosted their target price on Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $165.44.

Fiserv Stock Performance

NYSE FI traded up $2.36 on Thursday, hitting $151.25. 2,087,197 shares of the company’s stock were exchanged, compared to its average volume of 2,474,821. The firm has a market cap of $88.50 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.22 and a beta of 0.92. The firm’s 50-day moving average price is $150.30 and its two-hundred day moving average price is $147.97. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week 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 announced its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. Fiserv’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Fiserv, Inc. will post 8.69 EPS for the current year.

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.