Howe & Rusling Inc. Reduces Position in Fiserv, Inc. (NYSE:FI)

Howe & Rusling Inc. decreased its holdings in Fiserv, Inc. (NYSE:FI) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,334 shares of the business services provider’s stock after selling 3,779 shares during the quarter. Howe & Rusling Inc.’s holdings in Fiserv were worth $8,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Soros Capital Management LLC lifted its position in Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after purchasing an additional 22,884 shares during the period. Czech National Bank lifted its holdings in shares of Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the period. Chiron Investment Management LLC purchased a new position in shares of Fiserv in the 3rd quarter worth $4,709,000. Trust Co. of Vermont grew its holdings in shares of Fiserv by 170.4% in the fourth 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 during the period. Finally, Cardano Risk Management B.V. purchased a new stake in Fiserv during the fourth quarter valued at $97,254,000. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Stephens upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.32.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Trading Down 0.4 %

Shares of NYSE FI opened at $221.75 on Thursday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The firm has a market cap of $124.47 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The business has a fifty day simple moving average of $221.58 and a two-hundred day simple moving average of $207.28. 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 (NYSE:FI) last released its quarterly earnings data 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%. Analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a share buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.