Connor Clark & Lunn Investment Management Ltd. Sells 12,549 Shares of Fiserv, Inc. (NYSE:FI)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 13.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,203 shares of the business services provider’s stock after selling 12,549 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fiserv were worth $17,092,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of FI. Jacobi Capital Management LLC lifted its holdings in shares of Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after purchasing an additional 44 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Fiserv by 1.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in shares of Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after purchasing an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Fiserv by 1.2% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares in the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after purchasing an additional 50 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Down 1.0 %

FI stock opened at $209.23 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company has a market capitalization of $117.44 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The stock has a fifty day moving average of $218.83 and a 200-day moving average of $204.09.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy 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.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. Susquehanna increased their target price on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. BMO Capital Markets increased their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Compass Point initiated coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target for the company. Finally, Morgan Stanley increased their price target on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.83.

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.