Fiserv, Inc. (NYSE:FI) Shares Sold by LSV Asset Management

LSV Asset Management lessened its position in shares of Fiserv, Inc. (NYSE:FI) by 88.2% in the 4th quarter, HoldingsChannel reports. The fund owned 8,232 shares of the business services provider’s stock after selling 61,368 shares during the period. LSV Asset Management’s holdings in Fiserv were worth $1,691,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FI. Norges Bank purchased a new stake in Fiserv during the fourth quarter worth approximately $1,406,452,000. Raymond James Financial Inc. purchased a new stake in shares of Fiserv during the 4th quarter worth approximately $614,982,000. Alliancebernstein L.P. lifted its position in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after buying an additional 2,153,554 shares during the last quarter. FMR LLC boosted its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after buying an additional 2,126,419 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in Fiserv during the 4th quarter worth $363,031,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of FI stock opened at $212.44 on Tuesday. The firm has a fifty day moving average of $220.94 and a two-hundred day moving average of $210.90. The firm has a market cap of $118.66 billion, a P/E ratio of 39.41, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. 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 (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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%. As a group, research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has initiated a stock buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. KeyCorp raised their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $239.35.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.