Axxcess Wealth Management LLC Sells 464 Shares of Fiserv, Inc. (NYSE:FI)

Axxcess Wealth Management LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,413 shares of the business services provider’s stock after selling 464 shares during the period. Axxcess Wealth Management LLC’s holdings in Fiserv were worth $3,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FI. Valley National Advisers Inc. acquired a new stake in Fiserv in the 4th quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv during the 4th quarter worth $31,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC bought a new position in Fiserv in the 4th quarter worth $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FI shares. Stephens upped their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Susquehanna lifted their price target on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Stock Down 0.6 %

Shares of FI opened at $216.77 on Wednesday. The company has a market capitalization of $121.67 billion, a P/E ratio of 40.22, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The business’s 50 day simple moving average is $219.47 and its 200-day simple moving average is $205.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a stock repurchase 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 an indication that the company’s board 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 that occurred 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 in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.