Cullinan Associates Inc. Has $591,000 Stock Position in Fiserv, Inc. (NYSE:FI)

Cullinan Associates Inc. lessened its stake in Fiserv, Inc. (NYSE:FI) by 90.9% in the 1st quarter, HoldingsChannel reports. The fund owned 3,700 shares of the business services provider’s stock after selling 37,183 shares during the quarter. Cullinan Associates Inc.’s holdings in Fiserv were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. West Oak Capital LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $27,000. Halpern Financial Inc. bought a new stake in shares of Fiserv during the fourth quarter worth $27,000. GW&K Investment Management LLC acquired a new position in shares of Fiserv during the fourth quarter valued at $27,000. RE Dickinson Investment Advisors LLC bought a new position in Fiserv in the fourth quarter valued at about $27,000. Finally, Fortitude Family Office LLC acquired a new stake in Fiserv in the fourth quarter worth about $28,000. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Up 1.5 %

Fiserv stock opened at $149.39 on Wednesday. The company has a market cap of $87.41 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 1.20 and a beta of 0.92. The firm has a 50-day moving average of $150.78 and a 200-day moving average of $147.27. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a one year low of $109.11 and a one year high of $159.99.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Fiserv from $158.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on shares of Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their price objective on Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a report on Monday, March 25th. Wells Fargo & Company began 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. Finally, Robert W. Baird increased their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.44.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 23,929 shares of Fiserv stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Guy Chiarello sold 23,929 shares of Fiserv 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 completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,847,871.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $416,528.00. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,729 shares of company stock valued at $7,611,991. 0.75% of the stock is owned by corporate insiders.

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.