Advisory Services Network LLC Sells 632 Shares of Fiserv, Inc. (NYSE:FI)

Advisory Services Network LLC trimmed its position in Fiserv, Inc. (NYSE:FI) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,795 shares of the business services provider’s stock after selling 632 shares during the quarter. Advisory Services Network LLC’s holdings in Fiserv were worth $5,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock valued at $2,435,280,000 after acquiring an additional 218,833 shares in the last quarter. FMR LLC raised its stake in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after purchasing an additional 1,121,597 shares during the period. Norges Bank acquired a new stake in Fiserv during the fourth quarter worth about $1,406,452,000. Finally, Alliancebernstein L.P. increased its holdings in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on FI shares. Citigroup increased their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Susquehanna lifted their price target on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. StockNews.com began coverage on Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company increased their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $243.64.

Fiserv Price Performance

Shares of NYSE FI opened at $195.12 on Wednesday. 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 capitalization of $108.99 billion, a PE ratio of 36.20, a P/E/G ratio of 1.52 and a beta of 0.91. The firm has a fifty day simple moving average of $221.86 and a 200 day simple moving average of $209.81. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (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%. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv 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.