Envestnet Asset Management Inc. Decreases Position in Fiserv, Inc. (NYSE:FI)

Envestnet Asset Management Inc. decreased its holdings in Fiserv, Inc. (NYSE:FI) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,795,520 shares of the business services provider’s stock after selling 77,767 shares during the period. Envestnet Asset Management Inc.’s holdings in Fiserv were worth $368,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Czech National Bank lifted its stake in Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after acquiring an additional 6,072 shares during the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv in the 3rd quarter valued at $4,709,000. Trust Co. of Vermont lifted its position in shares of Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 4,310 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Fiserv during the fourth quarter worth $97,254,000. Finally, M&T Bank Corp increased its holdings in Fiserv by 12.0% in the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after buying an additional 15,103 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

FI has been the subject of a number of recent analyst reports. StockNews.com began coverage on Fiserv in a report on Sunday, March 23rd. They set a “buy” rating for the company. BMO Capital Markets boosted their target price on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and increased their price target for the company from $246.00 to $260.00 in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn raised 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 hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $243.64.

Fiserv Stock Down 8.4 %

FI opened at $198.77 on Friday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The business has a 50 day moving average price of $222.85 and a two-hundred day moving average price of $209.42. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The company has a market cap of $111.57 billion, a PE ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91.

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

Fiserv announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the company’s 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 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 document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by insiders.

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.