Confluence Wealth Services Inc. Has $647,000 Holdings in Fiserv, Inc. (NYSE:FI)

Confluence Wealth Services Inc. cut its holdings in Fiserv, Inc. (NYSE:FI) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,049 shares of the business services provider’s stock after selling 145 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Fiserv were worth $647,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Fiserv by 1.6% in the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock valued at $5,705,241,000 after buying an additional 789,232 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Fiserv in the fourth quarter valued at approximately $5,885,279,000. Capital World Investors bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $2,329,623,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $960,592,000. Finally, Veritas Asset Management LLP bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $927,298,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on FI. BMO Capital Markets boosted their price objective on Fiserv from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Barclays boosted their price objective on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Stephens restated an “equal weight” rating and set a $165.00 price objective on shares of Fiserv in a report on Wednesday, April 24th. BNP Paribas upgraded Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Finally, Jefferies Financial Group boosted 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. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Fiserv Stock Performance

Shares of NYSE FI traded down $1.65 during trading on Tuesday, reaching $152.67. 2,730,120 shares of the stock traded hands, compared to its average volume of 2,560,189. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a 50-day moving average of $152.76 and a 200-day moving average of $138.65. The stock has a market capitalization of $89.33 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91.

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 analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts forecast that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Insider Activity

In related news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,477,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 111,575 shares of company stock valued at $17,022,387 in the last 90 days. 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.