First Horizon Advisors Inc. Has $2.42 Million Stock Position in Fiserv, Inc. (NYSE:FI)

First Horizon Advisors Inc. reduced its position in Fiserv, Inc. (NYSE:FI) by 31.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,781 shares of the business services provider’s stock after selling 5,308 shares during the period. First Horizon Advisors Inc.’s holdings in Fiserv were worth $2,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanders Capital LLC bought a new position in shares of Fiserv in the third quarter valued at approximately $764,543,000. FMR LLC grew its stake in Fiserv by 17.8% in 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 during the last quarter. Kovitz Investment Group Partners LLC raised 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 during the period. Mizuho Securities USA LLC lifted its position in Fiserv by 1,238.6% during the 3rd 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 last quarter. Finally, Cardano Risk Management B.V. bought a new stake in Fiserv during the fourth quarter valued at about $97,254,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 completion of the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of FI stock opened at $232.47 on Monday. The stock’s fifty day simple moving average is $213.81 and its 200 day simple moving average is $198.86. Fiserv, Inc. has a one year low of $145.98 and a one year high of $237.99. The firm has a market cap of $132.26 billion, a price-to-earnings ratio of 43.13, a P/E/G ratio of 1.52 and a beta of 0.94. 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 issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 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 expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

FI has been the topic of a number of recent analyst reports. Susquehanna lifted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays increased their price objective on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-two have given 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 a consensus rating of “Buy” and a consensus target price of $239.83.

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.