Edgestream Partners L.P. Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Edgestream Partners L.P. decreased its holdings in Fiserv, Inc. (NYSE:FI) by 54.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,969 shares of the business services provider’s stock after selling 2,394 shares during the quarter. Edgestream Partners L.P.’s holdings in Fiserv were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new stake in Fiserv in the first quarter worth $25,000. ZRC Wealth Management LLC bought a new position in Fiserv in the first quarter worth $32,000. Halpern Financial Inc. bought a new position in Fiserv in the fourth quarter worth $27,000. RE Dickinson Investment Advisors LLC bought a new position in Fiserv in the fourth quarter worth $27,000. Finally, GW&K Investment Management LLC bought a new position in Fiserv in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Gibbons sold 2,800 shares of the business’s 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 owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,800 shares of company stock valued at $7,696,448. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on FI. Morgan Stanley upgraded Fiserv from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $154.00 to $175.00 in a report on Monday. Wells Fargo & Company initiated coverage on Fiserv in a report on Wednesday, June 12th. They issued an “overweight” rating and a $180.00 price objective for the company. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Barclays raised 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. Finally, KeyCorp raised their price target on Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.76.

Fiserv Stock Performance

NYSE FI opened at $161.18 on Thursday. The company has a market cap of $94.31 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50 day moving average price is $151.09 and its 200-day moving average price is $149.62. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $161.73.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Sell-side analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current year.

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.