Redwood Investment Management LLC Sells 1,393 Shares of Fiserv, Inc. (NYSE:FI)

Redwood Investment Management LLC trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,963 shares of the business services provider’s stock after selling 1,393 shares during the period. Redwood Investment Management LLC’s holdings in Fiserv were worth $1,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FI. Wellington Shields & Co. LLC bought a new stake in Fiserv in the 1st quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv in the 4th quarter worth $27,000. RE Dickinson Investment Advisors LLC purchased a new position in shares of Fiserv during the 4th quarter worth about $27,000. Private Wealth Management Group LLC purchased a new position in shares of Fiserv during the 4th quarter worth about $30,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of Fiserv during the 4th quarter worth about $31,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FI. TD Cowen lifted their price target on shares of Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Mizuho boosted their price objective on shares of Fiserv from $156.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $154.00 to $175.00 in a research report on Monday, July 22nd. KeyCorp boosted their price objective on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Fiserv Stock Performance

Shares of FI stock traded up $0.48 during trading hours on Wednesday, hitting $163.59. The company’s stock had a trading volume of 2,077,130 shares, compared to its average volume of 2,517,673. The company has a 50 day moving average of $151.95 and a 200 day moving average of $150.51. The stock has a market cap of $94.18 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $164.54.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,304,390.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John Gibbons sold 2,800 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the sale, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,800 shares of company stock valued at $7,696,448. Corporate insiders own 0.75% of the company’s stock.

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.