Fiserv, Inc. (NYSE:FI) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 53,227 shares of the business services provider’s stock after selling 996 shares during the period. Fiserv comprises about 1.2% of Middleton & Co. Inc. MA’s investment portfolio, making the stock its 27th biggest position. Middleton & Co. Inc. MA’s holdings in Fiserv were worth $10,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FI. Sanders Capital LLC purchased a new stake in shares of Fiserv during the 3rd quarter worth about $764,543,000. FMR LLC lifted its position in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after acquiring an additional 561,377 shares in the last quarter. Mizuho Securities USA LLC raised its position in Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after acquiring an additional 558,774 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Fiserv by 30,479.9% during the fourth quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock worth $99,628,000 after purchasing an additional 483,411 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

FI has been the subject of several research reports. Citigroup boosted their price target on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point started coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $235.67 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99. The firm has a market capitalization of $132.28 billion, a PE ratio of 43.72, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The business’s fifty day moving average price is $216.68 and its 200 day moving average price is $200.81.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.