Scharf Investments LLC Sells 22,667 Shares of Fiserv, Inc. (NYSE:FI)

Scharf Investments LLC lowered its holdings in Fiserv, Inc. (NYSE:FI) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,397,202 shares of the business services provider’s stock after selling 22,667 shares during the quarter. Fiserv accounts for about 5.9% of Scharf Investments LLC’s holdings, making the stock its 3rd biggest position. Scharf Investments LLC owned about 0.24% of Fiserv worth $208,239,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Wellington Shields & Co. LLC purchased a new position in Fiserv in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv in the fourth quarter valued at $27,000. RE Dickinson Investment Advisors LLC acquired a new position in shares of Fiserv during the 4th quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in shares of Fiserv in the 4th quarter worth about $30,000. Finally, NewSquare Capital LLC acquired a new stake in Fiserv in the 4th quarter valued at about $32,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FI shares. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stephens reiterated an “equal weight” rating and set a $165.00 target price on shares of Fiserv in a report on Wednesday, April 24th. KeyCorp boosted their price target on Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $173.25.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Fiserv news, 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 in the company, valued at approximately $4,213,329.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following 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. In the last three months, insiders sold 93,690 shares of company stock worth $14,833,215. Corporate insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.3 %

NYSE:FI traded up $0.46 on Thursday, hitting $168.79. 1,934,046 shares of the stock were exchanged, compared to its average volume of 2,497,449. The stock has a market cap of $98.76 billion, a PE ratio of 31.55, a PEG ratio of 1.31 and a beta of 0.92. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $169.77. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average of $156.30 and a 200-day moving average of $152.90.

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