Cullinan Associates Inc. Sells 37,183 Shares of Fiserv, Inc. (NYSE:FI)

Cullinan Associates Inc. trimmed its stake in Fiserv, Inc. (NYSE:FI) by 90.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the business services provider’s stock after selling 37,183 shares during the period. Cullinan Associates Inc.’s holdings in Fiserv were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. West Oak Capital LLC purchased a new position in Fiserv during the 4th quarter worth $27,000. Halpern Financial Inc. purchased a new position in shares of Fiserv during the fourth quarter valued at $27,000. GW&K Investment Management LLC bought a new stake in shares of Fiserv in the fourth quarter valued at about $27,000. RE Dickinson Investment Advisors LLC purchased a new stake in Fiserv in the fourth quarter worth about $27,000. Finally, Fortitude Family Office LLC bought a new position in Fiserv during the 4th quarter worth about $28,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Trading Up 1.5 %

Fiserv stock opened at $149.39 on Wednesday. The firm has a market cap of $87.41 billion, a PE ratio of 27.92, a P/E/G ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $159.99. The stock’s 50 day simple moving average is $150.78 and its two-hundred day simple moving average is $147.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (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 firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

FI has been the subject of several research reports. Citigroup upped their price target on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company initiated coverage on Fiserv in a report on Wednesday, June 12th. They set an “overweight” rating and a $180.00 target price for the company. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group upped their price objective on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, March 25th. Finally, KeyCorp lifted their target price on Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus target price of $165.44.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now 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 accessible through the SEC website. In other news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which is available at the SEC website. Also, COO Guy Chiarello sold 23,929 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,847,871.21. The disclosure for this sale can be found here. Insiders sold a total of 50,729 shares of company stock worth $7,611,991 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

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.