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

Advisory Services Network LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,795 shares of the business services provider’s stock after selling 632 shares during the period. Advisory Services Network LLC’s holdings in Fiserv were worth $5,504,000 as of its most recent filing with the SEC.

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

Fiserv Trading Down 1.7 %

Shares of FI opened at $195.12 on Wednesday. The business’s 50-day moving average price is $221.86 and its 200-day moving average price is $209.81. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The stock has a market cap of $108.99 billion, a PE ratio of 36.20, a P/E/G ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research firms have commented on FI. Oppenheimer increased their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Barclays increased their price target on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. KeyCorp raised their target price on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $243.64.

Insider Buying and Selling

In related 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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is currently owned by company 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.