CIBC Private Wealth Group LLC Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,075,563 shares of the business services provider’s stock after selling 55,403 shares during the quarter. Fiserv makes up 0.8% of CIBC Private Wealth Group LLC’s holdings, making the stock its 25th biggest holding. CIBC Private Wealth Group LLC’s holdings in Fiserv were worth $425,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FI. Jacobi Capital Management LLC boosted its position in shares of Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares during the period. Mount Yale Investment Advisors LLC grew its position in Fiserv by 1.2% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 50 shares during the last quarter. Finally, Hemington Wealth Management increased its stake in Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after purchasing an additional 50 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

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

Analyst Ratings Changes

A number of research firms have recently commented on FI. Wells Fargo & Company upped their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BMO Capital Markets boosted their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays lifted their target price on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $242.32.

Fiserv Stock Performance

Shares of FI opened at $216.15 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a market cap of $121.32 billion, a PE ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The stock has a fifty day moving average price of $222.00 and a 200-day moving average price of $207.91.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.