Morningstar Investment Services LLC Lowers Stock Holdings in Fiserv, Inc. (NASDAQ:FISV)

Morningstar Investment Services LLC trimmed its holdings in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 401,532 shares of the business services provider’s stock after selling 5,807 shares during the period. Morningstar Investment Services LLC owned approximately 0.06% of Fiserv worth $40,896,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FISV. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Fiserv by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,126 shares of the business services provider’s stock valued at $9,462,000 after acquiring an additional 11,385 shares in the last quarter. CWM LLC increased its position in shares of Fiserv by 17.1% during the fourth quarter. CWM LLC now owns 17,551 shares of the business services provider’s stock valued at $1,774,000 after acquiring an additional 2,567 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Fiserv by 4.2% during the fourth quarter. Van ECK Associates Corp now owns 35,557 shares of the business services provider’s stock valued at $3,594,000 after acquiring an additional 1,448 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $315,000. Finally, Goldstein Advisors LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $204,000. 88.79% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Price Performance

Fiserv stock traded up $1.10 during midday trading on Friday, reaching $113.91. 1,673,118 shares of the stock traded hands, compared to its average volume of 3,287,202. The stock’s fifty day moving average is $116.13 and its 200-day moving average is $109.35. Fiserv, Inc. has a 12 month low of $87.03 and a 12 month high of $122.39. The stock has a market cap of $71.55 billion, a P/E ratio of 29.77, a PEG ratio of 1.28 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.71.

Fiserv (NASDAQ:FISV – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Fiserv had a return on equity of 13.68% and a net margin of 13.36%. The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that Fiserv, Inc. will post 7.36 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 23rd that allows the company to repurchase 75,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the sale, the chief operating officer now directly owns 211,356 shares in the company, valued at $24,250,987.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fiserv news, COO Guy Chiarello sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the sale, the chief operating officer now directly owns 211,356 shares in the company, valued at $24,250,987.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert W. Hau sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $119.33, for a total value of $1,014,305.00. Following the sale, the chief financial officer now owns 133,491 shares in the company, valued at $15,929,481.03. The disclosure for this sale can be found here. Insiders have sold a total of 33,500 shares of company stock worth $3,904,745 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FISV shares. Credit Suisse Group lifted their target price on shares of Fiserv from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Raymond James lifted their target price on shares of Fiserv from $109.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. lifted their target price on shares of Fiserv from $121.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Robert W. Baird lifted their target price on shares of Fiserv from $138.00 to $145.00 in a research report on Wednesday, April 26th. Finally, Susquehanna lifted their target price on shares of Fiserv from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $132.16.

About Fiserv

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.