DnB Asset Management AS Cuts Position in Fiserv, Inc. (NYSE:FI)

DnB Asset Management AS lowered its position in Fiserv, Inc. (NYSE:FI) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 148,153 shares of the business services provider’s stock after selling 5,305 shares during the period. DnB Asset Management AS’s holdings in Fiserv were worth $30,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Marshall Investment Management LLC purchased a new position in Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the 4th quarter worth approximately $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new position in shares of Fiserv in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Down 1.4 %

Shares of FI stock opened at $216.15 on Friday. The stock has a market cap of $121.32 billion, a P/E ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The business has a fifty day simple moving average of $222.00 and a 200-day simple moving average of $207.67.

Fiserv (NYSE:FI) last announced its quarterly 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, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FI. Morgan Stanley upped their price objective on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Oppenheimer raised their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. KeyCorp lifted their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $242.32.

Insiders Place Their Bets

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

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.