Independence Bank of Kentucky Sells 330 Shares of Fiserv, Inc. (NYSE:FI)

Independence Bank of Kentucky lessened its stake in Fiserv, Inc. (NYSE:FI) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,756 shares of the business services provider’s stock after selling 330 shares during the period. Independence Bank of Kentucky’s holdings in Fiserv were worth $281,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Meritage Portfolio Management bought a new position in shares of Fiserv in the 4th quarter worth approximately $995,000. Piscataqua Savings Bank purchased a new position in Fiserv during the fourth quarter valued at approximately $67,000. GHP Investment Advisors Inc. bought a new position in shares of Fiserv in the fourth quarter worth approximately $78,000. Liberty Capital Management Inc. purchased a new stake in shares of Fiserv in the fourth quarter worth $7,071,000. Finally, Birch Hill Investment Advisors LLC bought a new stake in shares of Fiserv during the 4th quarter valued at $84,583,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,213,329.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fiserv news, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction 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 approximately $4,213,329.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Insiders have sold 50,729 shares of company stock valued at $7,611,991 over the last ninety days. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FI has been the subject of several recent analyst reports. Barclays upped their target price on shares of Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company initiated coverage on Fiserv in a research report on Wednesday, June 12th. They set an “overweight” rating and a $180.00 target price for the company. Robert W. Baird lifted their price target 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 lifted their price objective on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, March 25th. Finally, Stephens restated an “equal weight” rating and set a $165.00 target price on shares of Fiserv in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $165.44.

Fiserv Trading Down 0.0 %

Fiserv stock opened at $149.04 on Friday. Fiserv, Inc. has a one year low of $109.11 and a one year high of $159.99. The stock has a market cap of $87.20 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. 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 stock has a 50-day moving average of $150.81 and a two-hundred day moving average of $147.10.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the business earned $1.58 EPS. Fiserv’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

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.